Metinvest To Increase Steel Output by 10% in 2007
8 June 2008
Metinvest, System Capital Management’s metals & mining holding, announced it plans to increase steel output in 2007 by 10% yoy, from 8.5 to 9.4 mln mt. Iron ore and coal output is planned at 18.9 mln mt and 6.4 mln mt, respectively. The holding also targets the production of 12.5 mln mt of steel, 23 mln mt of iron ore, and 8 mln mt of coal. To achieve these targets, Metinvest is about to invest USD 4 bln in its core businesses by 2012. As it was reported earlier, half of that amount will go to Azovstal (AZST: U/R).
