Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has announced that in the first half of this year the investments of enterprises of MMK Group totaled RUB 5.1 billion ($74.62 million), including investments amounting to RUB 4.6 billion ($67.3 million) in MMK alone.
Accordingly, the main part of the investments in MMK were spent on technical equipment of blast furnace No. 8 at a cost of RUB 1.2 billion ($17.55 million). It is expected that total expenses for this project will amount to RUB 2 billion ($29.26 million).
Meanwhile, MMK’s key investment targets include reconstruction of equipment for environment protection and for recycling of products of coke and chemical production. In the whole of 2015, MMK Group expects to invest RUB 15.4 billion ($225.31) in total in its enterprises, with investments of RUB 14.5 billion ($212.15) in MMK alone.