MMK Increases Long-term Investment Program

25.07.2008 (11:36)

The investment program of Magnitogorsk Iron and Steel Works (MMK) until 2013 will amount to at least $10bn.

The figure was originally estimated at more than $7bn.

According to the program, MMK's production is expected to climb 32 percent to 15m tonnes over the next six years, and supplies on the domestic market are projected to exceed 12m tonnes. Furthermore, the company has an investment program until 2020, aimed at increasing the company's production efficiency and boosting its self-sufficiency in raw materials, reports RBC.

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Publications on the theme

MMK Redeems Eurobonds

22.10.2008 (15:38)

Magnitogorsk Iron and Steel Works (MMK) has bought back its $300m issue of Eurobonds, which matured on Tuesday.

MMK Posts 29% Net Profit Rise in January-September

21.10.2008 (13:35)

The Magnitogorsk Iron and Steel Works [RTS: MAGN] said on Tuesday its net profit under Russian Accounting Standards increased 29% year-on-year in January-September to 41.7 billion rubles ($1.6 billion).

MMK Considers Share Buyback

01.10.2008 (16:38)

Magnitogorsk Iron and Steel Works (MMK) does not rule out the possibility of buying back its own shares in favor of one of its subsidiaries.

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