The Russian Evraz Group, a steel
production and mining business with operations mainly in
Russia, is planning to invest about $550 million in its own development in 2006, the company's chief financial officer Pavel Tatyanin has stated. Evraz intends to direct the largest part of the investment towards development of the group's coal division.
Moreover, the company is also seeking to buy foreign assets. Commenting on the issue, Evraz's chief financial officer Mr. Tatyanin declared, “As for our international operations, there are several interesting units we are looking to buy”. However, he went on to add, “The company is not holding talks on a merger with anyone at this point”.