IUD To Invest USD 3.6 bln In Steel And Coke.
27 January 2008
TheIndustrial Union of Donbas (IUD) announced it will invest USD 3.6 bln to develop its steel and coking facilities by 2010. About USD 1.6 bln will be invested to double the output of Alchevsk Iron & Steel (ALMK: BUY) from 3.8 mln mt to 7.5 mln mt by 2010. Concorde Capital: Earlier, IUD leader, Serhii Taruta announced that group plans to hold an IPO in 2007, one of the many means IUD will use to finance its investment program. IUD boosted net profits by 52% yoy in 2005 to USD 390 mln and doubled sales to USD 4.5 bln.
