REMZ to commission new long steel rolling mill in early 2011

Wednesday, 25 August 2010 17:15:43 (GMT+2)

It is reported that Rostov Electrometallurgical Works (REMZ), a subsidiary of the Russian steel producer ESTAR Holding (ESTAR), plans in the first quarter of 2011 to commission its new rolling mill for the production of wire rod, wire and rebar with a designed capacity of 550,000 mt per year.

Accordingly, the installation of the new rolling mill is in fact the second stage of the construction of REMZ. The total investment in the project, the funding for which commenced in 2007 and was tied up during the crisis, will amount to Ruble 2.5-3 billion (about $81-97 million). In addition, ESTAR's owner Vadim Varshavsky does not exclude a further modernization of the plant to increase its capacity.

In the first seven months of 2010, REMZ produced 387,000 mt of billets, which exceeds the plant's output for the whole of 2009, when it produced just 383,000 mt. By the end of the current year, the plant plans to reach its designed capacity of 750,000-800,000 mt of billets per year. 

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