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MMK to Construct Facilities in Ohio
Magnitogorsk Iron & Steel Works (MMK) will build in Ohio facilities to manufacture automobile body sheets. The authorities of this U.S. state will provide an allotment for the site Monday, Interfax reported.
More than $1 billion will be invested to build facilities in the United States with the annual capacity of 1.5-million tons of cold-rolled automobile sheets, MMK CEO Viktor Rashnikov announced some time ago; the annual capacity of new facilities will exceed 1.5 million tons.
According to the U.S. media, MMK will be offered a site in Scioto County, close to Sun Coke Energy Inc. The latter stands ready to invest $230 million in expansion should new metal facilities be launched to step up the output by 1 million tons of coke a year.
Rashnikov voiced the MMK plans for creating Ohio facilities in July. Then, Ohio Vice Governor Lee Fisher announced they expect MMK to come up with the final decision in late 2007.
MMK is one of Russia’s biggest manufacturers of metal product. Its principal beneficiary is Viktor Rashnikov, who chairs the BOD of the works.
www.kommersant.com
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