December 03, 2008

RUB 9 billion to be invested in Asha Metallurgical Plant

FIS reported that Russian Asha Metallurgical Plant would be investing RUB 9 billion for modernization and capacity expansion.

The report added that the funds would be used to conduct modernization of the casting unit No 1 to construct Russia's first 100 tonne electric furnace with conveyor loading of metal charge and electric power station PS 500 to supply power for the furnace.

Asha Metallurgical Plant will start placing a bond loan worth of RUB 2 billion issued for the term of five years.