Profitable Russian steel producer cuts capex

摘要

NLMK is to reduce its medium-term annual capital expenditure target by nearly 40% to $550 M (?600 M), including outlay on maintenance."Thanks to operational efficiency programmes rolled out across all of our divisions, we were able to revise our investment plans by way of identifying low-capex, high-efficiency projects," CEO Oleg Bagrin said at an investors' day presentation in London.