Urals | Industry, manufacturing

MMK to invest $1.15bn in development in 2010

10 Dec '09
Chelyabinsk region-based Magnitogorsk Iron and Steel Works MMK has announced plans to invest in its development $1.15bn, up 3.8% on 2009 investment.

The companys 2009 investment is reportedly to come in at $1.1bn, the same amount that was invested in 2008.

Under plans, the funds are to be spent on construction of 2000 cold-rolling mill, reconstruction of 2500 hot-rolling mill and the ongoing construction of a plant in Turkey, as well as in development of Bakalsky ore mine.
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