One of the leading Russian mining and steel companies,
Mechel, has announced the acquisition of a controlling stake in Moscow Coke and Gas Plant (Moskoks).
Mechel has bought an approximate 77 percent stake in Moskoks from its management and other shareholders for around $300 million.
The addition of Moskoks to the
Mechel Group's structure is in line with the company's strategy of further developing its mining interests, and will enable
Mechel to fully satisfy its needs in
coking coal.
Moskoks is located in the central region of
Russia and has a total capacity of 1.5 million metric tons of
coking coal a year.