Support The Moscow Times!

Magnitogorsk Value to Soar

Magnitogorsk Iron & Steel is seeking to boost its market value to $20 billion from $11 billion, billionaire owner Viktor Rashnikov told Kommersant in an interview Thursday.

Magnitogorsk plans to invest up to $1.5 billion a year through 2014 to expand steel-products output by 60 percent and increase self-sufficiency in coal.


Read more