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RussiaТs NLMK to invest $1.6 billion in 2014Ц2017

ЌЋћ MOSCOW, Feb 10 (PRIME) -- Russian steelmaker NLMK plans to invest U.S. $1.6 billion in development until 2017 and expects additional income of $1 billion per year, the company said in its development strategy on Monday.

By 2017, the company plans to reach a net debt to EBITDA (earnings before interest, taxes, depreciation and amortization) ratio of 1.0. The company also plans to pay its shareholders at least 20% of the net profit under U.S. GAAP in dividends and keep an average payout of 30% within the next five years.

NLMK also expects the annual steel product sales to grow to 16.3 million tonnes in 2017 from 14.9 million tonnes in 2013. The share of high value-added products will increase to 40% from 35%.

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10.02.2014 11:45