Mechel Reports Signing Protocol of Intent With Kyrgyzstan’s Kyrgyz Temir Zholu
OREANDA-NEWS. Mechel PAO (MOEX:MTLR) (NYSE:MTL), one of the leading Russian mining and metals companies, reports signing a protocol of intent on development of ties between Mechel-Steel Management Company OOO and Kyrgyzstan’s National Company Kyrgyz Temir Zholu.
The protocol was signed in Bishkek on the sidelines of the Sixth Russian-Kyrgyz Inter-Region Conference for a term of five years, in the presence of the co-chairmen of the Intergovernment Russian-Kyrgyz Commission on Trade, Economic, Science, Technical and Humanitarian Cooperation, Russia’s Deputy Prime Minister Arkady Dvorkovich and Kyrgyzstan’s Deputy Prime Minister Tolkunbek Abdygulov.
According to this protocol, the signatories will aim at building systematic cooperation, including product information exchange, as well as cooperation in steel rolls supplies, including those of broad-gauge rails.
“We are interested in developing partner ties and expanding the market for our rails. We sincerely hope that signing this protocol of intent will start a long-term and mutually beneficial cooperation with Kyrgyz Temir Zholu,” Mechel-Steel Management Company OOO’s Chief Executive Officer Andrey Ponomarev commented.
Mechel is an international mining and steel company. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.