27 May ‘19

MMK co-finances- and medium-sized business projects

MMK's co-financing is provided on a competitive basis for the creation of new, or the expansion of existing, production. The share of co-financing amounts for up to 30% of the project amount but does not exceed RUB 15 million.

Pavel Shilyaev, CEO of MMK commented: "Co-financing is an important incentive and a sign of trust for companies that have decided to organise or expand industrial production in the MMK-INDUSTRIAL PARK. Residents of the Industrial Park already use the regional support tools, there is a discounted rental price of only RUB 66 per square metre per month, which is twice as low as the average rental price in Magnitogorsk."

Teplo Pribor Express Analysis, a resident of the Industrial Park, launched production of disposable sensors for the analysis of temperature and chemical composition of liquid steel at the site in March 2017. It was the first enterprise to use this financial instrument for the expansion and localisation of its production. This product is now being bought by all the largest metallurgical enterprises in Russia.

The site of the MMK-Industrial Park is a ready-made property complex with a total area of 65 hectares, with all the engineering infrastructure, a developed railway network – all the conditions required for a quick start of almost any new production are created here. MMK-Industrial Park has been accredited by the Ministry of Industry and Trade, which enables investors to apply a tax and benefit system - zeroing the property tax rate and a 3.5% reduction in the regional component of the income tax rate. To date, there are 26 residents on the site. Detailed information about MMK-Industrial Park can be found here www.mmk.ru/indpark

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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