Magnesite Group to invest 6 billion RUR in its production development before 2010

25 April 2006 (11:58)

Magnesite Group worked up and has been carrying out its own investments program aimed at modernization and development of its operating departments as well as distribution and engineering systems, its source of raw materials, and technological and managerial capacities.

According to Magnesite Group PR-department, the holding is going to invest 6bn RUR in development of its subsidiaries under this program before 2010. The total volume of investments within 2006 is to come to 2bn RUR including 1.7 billion to be spent on development of Kombinat Magnesite JSC.

Resolving problems of raw materials supply is an integral part of Magnesite Group development strategy. In 2006, the holding is going to pay extra attention to Goluboye field development located in Krasnoyarsk Region, which is expected to solve the problems of supplying the refractory industry with top-quality magnesite. The holding’s annual investments into development of Krasnoyarsk source of raw materials are to come to 186 million RUR.

The holding’s investments into research and engineering development within 2006 will come to 38m RUR.

Magnesite Group is also going to assign a sum of 150m RUR to environmental projects, bringing its technology in accordance with the internationally established standards of environmental impact and carrying out further development of the company’s environmental management system. The holding expects its investments program for 2006 to promote an increase in sales by 10% so that they come to 1.5 million tons of goods.

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