Mariupol Illicha Steel Plans to Invest USD 690 mln in 2008.
18 September 2008
Yesterday Mariupol Illicha Steel (MMKI: U/R) CEO Volodymyr Boyko announced the company’s plans to invest USD 550-690 into the construction of a converter shop, which will allow to decrease gas costs. According to Boyko, this construction is a part of the steelmaker’s overall upgrade plans. Eugene Cherviachenko: The positive news has come as no surprise, since the gas crisis in 2005 the company has been making efforts to decrease dependency on natural gas.
