The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has announced plans to implement a $5.2 billion-worth investment program during the 2007-2013 period.
A MMK spokesperson has clarified to SteelOrbis that the investment program in question will be directed toward development of the company's metallurgical segment, in particular toward increasing the share of high-value added steel products in MMK's overall production.
MMK is planning to finance the major part of this massive investment program by issuing additional shares both on the London Stock Exchange and in Russia.