Intercos-IV, a subsidiary of Russian steel producer Magnitogorsk Iron and Steel Works (MMK) specialized in design and manufacturing of dies and molds for the automotive industry, will commission in December this year the first phase of its plant for the production of stamped components as well as a steel service center in Russia's Kolpino city, St. Petersburg's Committee for Economic Development, Industrial Policy and Trade has reported.
Intercos-IV's new plant on the grounds of Izhora Plant is scheduled to be fully commissioned by December 2015. The first phase of the plant will be commissioned in December 2010, the second phase - in December 2012, the third phase - in December 2014, while the fourth phase of the plant will be started up in December 2015. The total investment in the project will reach about Ruble 10 billion (approx. $331 million).
The production of the new plant, including sheet stamping, stamped panels, stamped-welded parts, is intended for the manufacturing of car bodies at the assembly plants of such automobile manufacturers as Ford, Toyota, General Motors, and Nissan, etc. which are already in operation or under construction in Russia, and also as components for white goods manufactured in Russia or abroad at the plants of Bosch-Siemens, Electrolux, LG, Samsun and others.
The products of the steel service center will target the construction sectors, machine building, shipbuilding, and other industries in St. Petersburg and Leningrad region.
The new plant will process about 150,000 metric tons of rolled steel products a year while the service center will process about 200,000 metric tons a year.
Accordingly, the high quality sheet steel for further processing at the new plant will be directly supplied from MMK, which since August 2007 owns 75 percent in Intercos-IV.