Metalloinvest puts 2020 capex at $434 mln, to fulfill all projects
MOSCOW, Nov 19 (PRIME) -- Capital expenditures of Russian metals holding Metalloinvest will amount to U.S. $434 million in 2020, the company will implement all projects that it had planned, CEO Nazim Efendiyev said on Thursday during a summit.
Unlike many other companies in the metals industry, Metalloinvest increased production in January–September during the coronavirus pandemic. Its capacities were fully loaded, he said.
“The situation allowed us to continue implementation of all investment projects. I mean that this year the sum investment, the sum of investment that has already been done, will stand at around $434 million. This is a serious figure given the current situation. We will finish all investment projects we planned to finish this year,” he said.