Magnitogorsk Iron and Steel Works (MMK) has opened a bidding book for $500-million 5-year Eurobonds with a yield guidance of 4.75% annually, a banking source reported. The company has been holding meetings with investors in Moscow, European and U.S. cities since May 30. Citi, J.P. Morgan and Societe Generale are the organizers. (Prime/Ukrainian metal)
In 2018, Ferrexpo invested over 3.5 billion UAH (more than $139 million) in the development of Poltava, Yeristovo and Belanovsky Mining and Processing Works. In particular, PGOK received 2.414 billion UAH ($90 million), and EGOK and BGOK – 1.073 billion UAH ($40 million). PGOK spent the funds mostly to maintain its operation (806 million UAH),…
The Ministry of industry and trade has prepared suggestions on quoting steel scrap exports by regions. “We are reviewing various mechanics to satisfy scrap demand in the country. We have prepared suggestions on quoting the export of scrap”, the deputy minister Victor Yevtukhov said. Various quote indexes are provided for different districts and regions. “Where…
Azovstal Iron and Steel Works has started shutting down its blast furnace No. 5. The furnace will be shut down for good. When it is fully cooled down, it will be disassembled. With the decommissioning of the blast furnace No. 5, air pollution will decrease, thus lowering the environment impact in the city of Mariupol.…
The key priority of MMK’s environmental policy is the implementation of measures included in the Clean Air program, which is part of “Ecology”, the national environmental project. By 2025, MMK aims to have reduced air emissions by 26,300 tons per year, which together with urban environmental activities will allow for a 20% reduction in total…
Severniy Mining and Processing Works is carrying out a scheduled replacement of scrubbers, equipment to purify gases. The project is carried out under the Krivoy Rog city environment program. Investments in the modernization of the machinery will reach 30 million UAH. New equipment will be installed in the pellets shop No. 1. A total of…
In January-March, average salary growth in metal industry was 23.9%, to 12.45 thousand UAH. At the same time the growth in industry was 25.8%, to 10.88 thousand UAH. According to the State Statistics Service, the salary fund in metal industry in Q1 was 7.32 billion UAH. Average salary for one working hour was 87 UAH,…
Severstal Steel Decisions is finishing producing metal structures for the construction of an aviation hangar in the Republic of Nicaragua. The hangar will be constructed in Managua. This region of the Central America has the highest seismic activity and strong winds due to its proximity to the Pacific Ocean. The company is constructing a frame…