MMK will decide on Kazakh project after sale of state shares

/IRBIS, October 4, 04/ - Information below is translated abstract of REUTERS news. Magnitigorsk Metallurgy Plant (MMK) will approve participation in the joint project with SSGPO (Sokolovsk-Sarbai ore mining and processing plant) after sale of state stake in MMK. The project targets construction of metallized briquettes production facility in Kazakhstan. Representative of SSGPO has recently informed that the company is looking an investor for construction of the briquette facility with total cost of $350 m. The joint project could become the largest Russian projects in Kazahstan. The total capacity of the plant could reach 2 million tons per year. The government of Russian Federation has decided to sale its stake in MMK by the end of this year. [2004-10-04]