Mechel PAO (MTL)

[I-Man]

So recent SEC filing was not completed as of yet, to this new filing saying they need loan to acquire equipment to set into action???


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Expert Council of Russia’s Industry and Trade Ministry’s Industrial Development Fund approved a loan for Mechel’s Chelyabinsk Metallurgical Plant (ChMK PAO) to implement a project for production of rails, beams and other structural rolls meant for export.

The project’s cost totals 1.52 billion rubles, including 300 million rubles to be loaned by the Industrial Development Fund. The project includes acquiring technological equipment in order to set up manufacturing of products according to European standards on the basis of Chelyabinsk Metallurgical Plant’s
universal rolling mill.