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.