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November 18, 2019

Russia’s steel maker MMK to invest $686m in sustainable development

Russia’s oldest steel-making firm Magnitogorsk Iron & Steel PJSC (MMK) has announced plans to invest $686m in sustainable development projects.

Russia’s oldest steel-making firm Magnitogorsk Iron & Steel PJSC (MMK) has announced plans to invest $686m in sustainable development projects.

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MMK noted that its latest strategy is focused on sustainable development principles, which showcase a balance between operational and financial performance improvement.

The company’s strategy will be implemented through an investment programme.

Social responsibility along with environmental protection is also included in the company’s strategy.

The steel major mentioned that a key strategic priority for the company is to enhance the environmental situation in Magnitogorsk city in Russia.

MMK Board of Directors chairman Viсtor Rashnikov said: “We have been focused on the consistent implementation of our development strategy and during the new investment cycle have already completed a number of key projects aimed at expanding MMK Group’s footprint in the segments for high-margin products.

“We continue to implement our large-scale investment programme focused on upgrading and improving efficiency of sinter, coke and blast-furnace production processes.”

According to Rashnikov, the company intends to keep annual investment at about $900m per annum until 2023, followed by a decrease in 2024 and 2025.

The implementation of these programmes will enable the company to reduce its air emissions and water pollutants discharge to an additional 20% and 70% respectively, by 2025.

According to Bloomberg, MMK was previously known as a serial polluter, with steel factories near Russia’s Urals Mountains polluting the snow-capped peaks.

Earlier this month, MMK said that the Comprehensive Air Quality Index (CAQI) indicator for Magnitogorsk has almost halved over the past two years, according to official data. This is a clear indication of a twofold improvement in air quality, recorded as the lowest in Magnitogorsk’s history.

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Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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