MMK DG: We Aim to Reduce Debt Burden

5 September 2011 (11:11)

We keep investing in production while still introducing new principles into the way the enterprise’s budget is structured,’ the Director-General of Magnitogorsk Iron & Steel Works (MMK) Boris Dubrovsky said in his interview to Magnitogorsky Metall.

We couldn’t make do without borrowed funds when MMK invested considerable amounts of money in the construction of new production facilities; this is a practice adopted everywhere around the world. Now our task is to reduce the debt burden, so the budget for 2012 is expected to come out deficit-free and well-balanced,’ he noted.

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