Byelorussian Iron and Steel Works (BMZ) has announced that during the first half of 2008 the company invested BY Ruble 130.1 billion (approx. $61.6 million) in its fixed capital, for use in the realization of a number of investment programs and innovation projects, aimed at expanding its steel production.
For the year 2008, BMZ plans a total investment of BY Ruble 240 billion (approx. $113.6 million).
The proportion of the company's new production during the first half of 2008 amounted to 27.9 percent of its total volume of production.
Currently, BMZ is developing output of new steel products, including high-carbon wire rod and fibers that will allow the company to increase its exports.
During the first half of 2008, BMZ exported products to 50 countries with a total cost of $921.7 million, up by 36.9 percent year on year.