According to the company release, MMK will invest more than $5 billion over the given period in the modernization of its plant. In 2007 alone, the company's investments will total about $800 million.
In the framework of the program, MMK has already started the construction of a new plate mill 5000, with a designed annual capacity of 1.5 million metric tons. The mill is expected to be put into operation by 2009.
Moreover, MMK plans to construct new HDG and polymeric coating lines, in addition to a new coke battery and fourth converter with an annual capacity of two million metric tons.
Furthermore, MMK plans to build a new cold rolling mill for production of sheets used in the automobile industry, and of sheets to be used for coating. The new mill is expected to be finished by 2010 and will have an annual capacity of two million metric tons. The products from the new mill will be mainly supplied to the fast growing Russian domestic automobile market.