EVRAZ
North America announced Tuesday that it will make its largest single investment – approximately $200 million – at its Regina, Saskatchewan facility.
Spanning the next two years the investment, which is being entirely funded by EVRAZ
North America, will include installation of a new two-step large diameter line pipe mill (primarily from assets recently purchased from United Spiral Pipe LLC). It will enable the production of larger, thicker-wall pipe and increase annual production capacity by over 100,000 tons. EVRAZ is also making state-of-the-art upgrades in steelmaking including degassing and the ability to make larger steel slab sizes. Additionally, the power and size of its rolling mill will be increased to make thicker, wider steel coils.
“Over the next three years, we’ll build more than $22 billion of pipelines to open new markets for Canadian producers,” said Conrad Winkler, EVRAZ
North America President and CEO.
“Not only did the budget avoid any tax increases, we also wanted to provide an incentive for new job creation in export manufacturing and processing and so we are very pleased to see EVRAZ respond to these revenue neutral incentives with a $200 million investment that will create about 40 new jobs,” said Saskatchewan Premier Brad Wall.
EVRAZ has produced more than 51,000 kilometers (32,000 miles) of project pipe from millions of tons of recycled metal over its 59 years in Regina.