16
November
2011
The MBC Corporation to act as a co-investor of Russian Magnesium project
The Board of Directors of ROSNANO OJSC has approved of the
general conditions of the transaction. However legally binding
documents that specify all required details are still to be
signed.
ROSNANO has been considering Russian Magnesium project for more
than two years. The project is complicated but attractive for
investors and extremely important for the national economy. The
foundation of a new enterprise specified in the framework of the
project, will lead to the satisfaction of national demand and
reduce the level of dependence of Russian enterprises from the
import of raw materials.
The total scope of the project taking into account the investments
that have already been made makes up 16 bln roubles. This sum was
partially invested by ROSNANO OJSC in form of a contribution to the
authorized capital of Russian Magnesium OJSC.
Metropol Group acted as a co-investor of the project through its
filial structure – the NBC Corporation.
