Mariupol Illicha Completes Repairs Of Blast Furnace #2
16 August 2008
The cost of the furnace’s repair was about USD 11.9 mln. The physical volume of the furnace was increased during the reconstruction which will result in an increase in pig iron production by 22.7% to 2.7 ths mt daily. Concorde Capital: As steel prices are still low, we do not believe that the company (MMKI: HOLD) will start to fully utilize capacity of the repaired blast furnace. In our view, the company will maintain production at 1H05 levels.
