OREANDA-NEWS. December 27, 2007. OMZ (Uralmash-Izhora Group)  announced that its Board of Directors had approved the basic directions of OMZ investment policy for 2008. According to the company's investment program, OMZ will invest mainly in the comprehensive modernization of facilities to build a strong production base. The company will also invest in research and development and in the attraction and education of personnel. The Board meeting was held 20 December.

The company will be paying special attention to investments in basic OMZ companies participating in the Federal Target Program aimed at Russia's energy sector development.OMZ plans to spend RUR4.5 billion for implementation of its investment program for 2008.