Russian mill MMK plans restructuring
Russian steel producer Magnitogorsk Iron and Steel Works (
MMK) released its scheduled
investments for the
production development to be carried out in the company.
As per plans, for modernization and repair facilities
MMK will invest $194 million during 2003, including $24 million loans. The company will further invest $287 million, including $50.2 million in loans in 2004, for the restructuring to be carried out in the plant.