OMK Group

completed

The project is to assist the United Metallurgical Company (OMK), a leading privately held Russian group, in the ongoing expansion, modernization and environmental improvement program of two of its operations – namely OAO Vyksa Steel Works (Vyksa) and OAO Gubakha Coke Plant (Gubakha). In this respect, OMK has requested IFC to provide a total financing of up to $70 million comprising of:- a $60 million loan to Vyksa; and - a $10 million loan to Gubakha. Vyksa is a producer of steel pipes and railway wheels, whereas Gubakha produce metallurgical coke, an important input in steel production.During the 1990s, OMK has emerged as one of the leading groups in the downstream Russian metals industry. Its key customers are the most important domestic players in the energy, transport and heavy industry sectors. OMK and its associated companies employ about 30,000 people across several regions in Russia.