OREANDA-NEWS. On 7 February 2008 was announced, that EMZ group, including Enakievo Steel, is planning to increase investments into its production development to US$ 270 mln in 2008. 

Alexander Podkorytov, chief executive of the group, informed that the key investment target is the blast-furnace #3 and commencement of a new sintering plant construction. According to Mr Podkorytov, the total cost of the sintering plant construction will be not less than $350 mn.

We would like to remind the reader that Metinvest Holding LLC, the managing company of Metinvest group, at the end of 2007 announced that it is going to allocate for reconstruction and modernization of Enakievo Steel (PFTS: ENMZ) and Azovstal steelmaker US$ 7.5 billion by 2017.