Russian steel maker MMK plans stamping plant

Newswire

ST PETERSBURG, Aug 30 (Reuters) - Magnitogorsk Iron and Steel , Russia's third-largest steel maker, will invest up to 3 billion roubles ($117 million) in a stamping plant to supply car makers in St Petersburg, officials said on Thursday. Magnitogorsk , or MMK, will process 125,000 tonnes of steel per year at the plant by 2010 and could subsequently raise this to 300,000 tonnes, the St Petersburg administration's economic committee said in a statement. The committee's deputy chairman, ...

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