MMK PLANS LOAN TO FINANCE PROJECT IN TURKEY, CURRENTLY IN NEGOTIATIONS WITH BANKS

摘要

Magnitogorsk Iron & Steel Works (MMK) is in negotiations with a consortium of banks for the provision of a loan that would finance the continued construction of a nietallurgical complex in Turkey, the board chairman and main owner of MMK, Viktor Rashnikov, told journalists on May 22. "Work [on construction] is progressing sluggishly. The crisis started and one of the banks jumped ship [exited the consortium]," Rashnikov said, adding: "next week we should solve the issue of providing the loan." He did not provide further details in this regard.