Metalloinvest says invests 210 mln rbl in Oskol Iron Works upgrade

MOSCOW, Oct 6 (PRIME) -- Russian metals producer Metalloinvest has finished a 210 million ruble upgrade of its Oskol Iron Works, the company said in a statement on Wednesday.

“Investment in the purchase of new equipment amounted to about 210 million rubles,” the company said.

The new equipment guarantees trouble-free loading of workpieces into the machines for further processing, as well as an enhanced quality of the end product.

Metalloinvest is one of the top metals and steel producers in Russia and the CIS. USM Holdings controls 100% of it. The main beneficiaries of the holding are Alisher Usmanov with 49%, and Vladimir and Varvara Skoch with 15% each.

(72.5686 rubles – U.S. $1)

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