Mechel's shareholder Zyuzin visits Romania after USD 50 mln investment in Otelul Rosu steelmaking complex

Igor Zyuzin (in picture), the main shareholder and president of the board of the Mechel group, who is on an official visit to Romania this week, announced the company's plans to consolidate its investments in Romania. Zyuzin's agenda for this visit included meetings with president Traian Basescu and with Prime Minister Emil Boc. Igor Zyuzin, aged 49, was included in the Forbes list of the world's billionaires, with a net worth of USD 6.4 billion, ranking 133rd in the 2010 top. The Russian company has recently finalized an investment of USD 48.7 million in a new steelmaking complex at its Romanian-based subsidiary Ductil Steel Otelu Rosu, the company has announced. “Completion of the investment project at the Otelu Rosu plant will enable us to fully provide Mechel’s Romanian enterprises with raw materials, which will dramatically cut costs and improve the efficiency of their work,” said Mechel's Chairman of the Board of Directors Igor Zyuzin. Mechel has invested over USD 200 million in Romania since 2002. The company employs 7,000 people in Romania, in six units: Mechel Targoviste, Mechel Campia Turzii, Ductil Steel Buzau, Ductil Steel Otelul Rosu, Laminorul Braila and Mechel Reparatii Targoviste. editor@romania-insider.com (Photo source: Mechel.com)