Russia's Industrial Metallurgical Holding (IMH) has bought a 29.9 percent share in the country's largest pig iron producer and exporter Tulachermet from Mikhailovsky GOK, a subsidiary of the Russian steel and iron ore producer Metalloinvest Holding. The value of the deal amounts to $150 million.
This acquisition is an important step in IMH's consolidation of its assets, an IMH representative commented.
In addition, IMH plans to implement a $900 million-worth investment project named Stal at Tulachermet. The project is aimed at the development of slab production at Tulachermet, with an annual production capacity of 3.5 million metric tons a year.