MMK eyes Asia for expansion

Magnitogorsk Iron and Steel Works (MMK), the largest Russian metallurgical enterprise, after acquiring part of the shares in Pakistan Steel Mills, as a part of MMK-Al-Tuwairqi and Arif Habib Group consortium, at the beginning of April, now explores the possibilities of further expansion to Asia, especially to India. According to Viktor Rashnik, the chairman of MMK's board of directors, the company's specialists are evaluating Indian companies and their potential capacities now. ’Realization of projects in India would allow MMK to strengthen its position in the region with high economic potential', commented Rashnik. However, it is still too early to speak about any concrete projects, said the chairman.