Evraz Vitkovice Steel, a Czech-based subsidiary of the Russian steelmaker and iron ore producer Evraz Group, is considering building its own electric arc furnace, to cut dependence on hot iron deliveries from ArcelorMittal Ostrava and solve its problems with raw material supplies.
According to Russian news agency Interfax, the total investments in the project are estimated at CZK 3 billion (about $153 million).
As SteelOrbis previously reported, on July 1 this year Evraz Vitkovice temporarily closed its steel melting shop due to failure in negotiations with ArcelorMittal Ostrava over prices for hot iron supplies.