The investment plan of Mechel for 2013 was cut in half, from USD1.2 billion to USD500-600 million, said the company’s vice president of finance Stanislav Ploschenko on a conference call. According to Mr. Ploschenko, about USD150 million is to be invested in the maintenance of Mechel’s facilities, and the remaining USD350-450 million in the only two remaining investment projects. Mr. Ploschenko explained that the other two investment projects are the development of the rail-production mill and the Elga coal complex.

Investment in 2012 was about USD900 million, of which USD150 million was directed at infrastructural support, and the remaining amount was earmarked to investment projects.