MMK Recognized Among Russia's Largest Investors by Forbes

Magnitogorsk Iron and Steel Works (MMK) was included in the annual list published by the Russian edition of Forbes, ranking the country's largest companies by investment volume. The company secured the 31st position on the list.

MMK's investments for 2024 are estimated at 101.2 billion rubles. This amount makes the company the second-largest investor among all companies in the Ural region and the top investor in the Chelyabinsk region.

The investment indicator includes the creation of long-term assets such as industrial facilities, administrative buildings, equipment, and transportation infrastructure, as well as investments in joint ventures. The ranking is prepared using financial and accounting reports disclosed by companies, along with data from the Russian Federal Tax Service and Rosstat.

Continuous Investment Strategy

MMK's long-term investment strategy is based on the high-tech modernization of production — including the construction of new industrial facilities and the renovation of existing ones — and prioritizes reducing environmental impact. The company actively invests in the modernization of existing facilities and the establishment of new ones, with a particular focus on the production of import substitution products.

Major Projects of 2024

The largest investment project completed in 2024 was the commissioning of Coke Battery No. 12. Approximately 90 billion rubles were invested in this industrial complex with a fully integrated production cycle. This new battery, with an annual production capacity of 2.5 million tons of dry coke, meets half of MMK's internal coke needs. The opening, attended via video link by Russian President Vladimir Putin, enabled the closure of MMK's old coke production units and significantly improved the environment around Magnitogorsk.

Another significant project was the air separation unit installed at MMK's oxygen plant, realized with a total investment of 16.5 billion rubles. This high-capacity and advanced technology facility fully meets MMK's needs for air separation products.

Source: SteelRadar