Amurmetall to invest in modernization in 2007

The Russian steelmaker Amurmetall is planning to invest Ruble 3.6 billion ($132 million) in modernization in 2007, said Amurmetall General Manager Mr. S. Khokhlov. Mr. Khokhlov specified that only the lowering of the primary cost of production would allow Amurmetall to be competitive with the Russian domestic and foreign steel producers. Amurmetall has already invested Ruble 3 billion ($113 million) over the last three years to decrease the primary cost of its products. The current investment is directed towards the technical modernization of the company's production process.