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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.

(Bloomberg)


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