Bulgarian hot rolled bar mill plans to construct meltshop
Promet Steel JSC, the largest hot rolled bar producer in
Bulgaria plans to build a new meltshop at a cost of $25 million. This strategic move of the company aims to become stronger in the fluctuating billets and blooms market.
By constructing this meltshop, scheduled to complete towards the end of 2004, the company intends to produce its own blooms and billets that it is currently supplying from
Russia,
Ukraine and other producers in
Bulgaria.
The mill produces round steel bars, rebars, flat steel bars and equal steel angles, sells 20% of its
production to the domestic industry and the rest to Mediterranean region, the
UK, southeast
Africa and the US.
By producing its own raw material, the company will become more competitive, as this will help reducing its
production costs