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. Last Updated: 07/27/2016

Heavy British Funding

LONDON () -- British-based steel group Ispat International, which said in November it was buying the Karmet steelworks in Kazakhstan, plans to invest a total of about $950 million in the project, the Financial Times said Tuesday.

Ispat chairman Lakshmi Mittal said his company was paying $450 million for Karmet's assets and some of its liabilities and would invest another $500 million over five years in modernization, the newspaper reported.