OREANDA-NEWS. December 5, 2011. The Bank of Moscow and Metallurgic Industrial Complex of Magnitogorsk have signed a loan agreement for the amount equaling 100 million USD. The Bank of Moscow has been cooperating with the Metallurgic Industrial Complex of Magnitogorsk since 2006 and provides a wide spectrum of the financial products to the enterprise.

For information:

ОАО Metallurgic Industrial Complex is one of the largest world producers of steel and holds the top positions among ferrous metallurgy enterprises of Russia. The company’s assets in Russia represent a large metallurgic industrial complex with a full production range, from preparation of the iron ore raw materials to the advanced processing of ferrous metals. MIC produces a wide assortment of metal products with the prevailing share of products with high added value. In 2010 MIC Group produced 11.4 million tons of steel and 10.4 million tons of the consumable metal products. Proceeds of MIC Group for 2010 reached USD 7.719 billion USD, EBITDA — USD 1.606 billion USD and profit for the period stood 232 million USD.