UrBC, Magnitogorsk, June 10, 2019. Magnitogorsk Iron & Steel Works (MMK) and Samara Region Government signed an agreement to build a production/logistics hub in Togliatti. The project is expected to require RUB 1.2bn in investments, MMK’s Information, PR & Advertising Department reports.

The agreement was signed by Governor of Samara Region Dmitri Azarov, MMK Chair of the BOD Viktor Rashnikov, and MMK’s Director-General Pavel Shilyayev in the course of a solemn ceremony at Saint Petersburg International Economic Forum.

‘Samara Region is MMK’s long-time, reliable partner. MMK’s up-to-date, innovative rolled metal goods are very popular with the local car makers, some of the key companies in the Russian machine-building industry, The new production/logistics hub will reinforce MMK’s strategic partnership with the car manufacturers in the area and will bring our cooperation to a new level,’ Pavel Shilyayev said.

The work on the hub will begin at the end of the year, with the launch scheduled for the first quarter of 2021. The hub will house up to 150,000,000 kg of metal goods at a time.