04.11.2009 | Project Magnitogorsk

The company ALTA, a.s. in cooperation with the company PSG, a.s. continues to fulfil
the projects with Magnitogorsk Iron & Steel Works in accordance with the Basic contract having the value of 800 million USD.

The subcontracts having value of 266 million USD, relevant to the modernization of the rolling mill ”2500”, were signed on Wednesday 14 October 2009 in Moscow and herewith was started the second phase. At the same time were signed the credit contracts between MMK and the consortium of banks headed by the Czech Export Bank.

Supplies in terms of the first phase having value of 150 million USD were started in July of this year.

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