18 July ‘19

MMK Metallurgists settle into new houses built as part of plant's housing programme

These houses are part of 'Klyuchevskaya', a residential complex, currently under construction in the village of Soty, an environmentally clean area of Magnitogorsk. The ceremony was attended by MMK CEO Pavel Shilyaev, Mayor of Magnitogorsk Sergey Berdnikov, MMK Group's Chair of the Trade Union Boris Semenov and Chair of Magnitogorsk's Assembly of Deputies Alexander Morozov. Pavel Shilyaev congratulated the new residents and, at the invitation of one of the families, visited them and inspected their new housing.

The commissioning of these houses, on the Day of Metallurgists, marks the beginning of the next phase of commissioning for nine further houses at the complex, which will bring the total number of apartments to 36. The developer of the complex is the housing and the investment fund Klyuch which was created about 25 years ago by MMK with the aim of developing housing for the Company's employees. The apartments built by Klyuch are known for their high level of construction quality and comfort. Site improvements were also implemented, making it possible for inhabitants to use the area adjacent to the housing at their discretion.

The cost of this housing for MMK employees is 34,000 rubles per square metre. Employees can buy an apartment using a mortgage loan, including a mortgage loan which doesn't require an initial down payment.

About MMK
MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2018, the company produced 12.7 mln tonnes of crude steel and 11.7 mln tonnes of commercial steel products. MMK Group had sales in 2018 of USD 8,214 mln and EBITDA of USD 2,418 mln.

Investor contacts:
Andrey Serov
tel.: +7 (3519) 24-52-97
E-mail: serov.ae@mmk.ru

Media contacts:
Dmitry Kuchumov
tel.: +7 (499) 238-26-13
E-mail: kuchumov.do@mmk.ru

Dmitry Bulin
tel.: +7 (499) 238-26-13
E-mail: bulin.dn@mmk.ru

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