OREANDA-NEWS. July 17, 2007.  Magnitogorsk Iron & Steel Works OJSC said it has approved an plan to raise its 2007 capital expenditure by 20 pct to 800 mln usd from 663 mln usd.

According to documents issued in advance of its April initial public offering (IPO), the company expects total capital expenditure to reach 5.2 bln usd from 2007-2012.