Magnitogorsk Iron and Steel Works posts development plans

The Magnitogorsk Iron and Steel Works (MMK) is planning to allocate RUR3.3bn (about $103.63m) for production development. As the press service of the company reported, this sum will include 80 percent of own resources and 20 percent of borrowed resources.

In 2003, the major fields for capital investments will be steel production, cold-rolled metal and hot-rolled metal production.

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