The Tatarstan government and ZAO Maxi-Invest have signed a protocol for the construction of a new electric steel smelting plant Tatstal.
Accordingly, the construction project for the plant will be carried out in two stages. The first stage of the project will include the construction of the electric steel smelting facility, of infrastructure and subsidiary workshops (railroad, energy, electrical and other). By the end of the first stage, the plant will be able to produce up to 980,000 mt of 125 x 125 mm square billets per year.
The second stage of the project will involve the construction of a small section rolling mill, which will allow Tatstal to manufacture up to 950,000 mt of 8-40 mm rebars and No. 20 - No. 63 angles.
The first stage of the construction of the electric steel smelting plant is to be finished by the end of 2010, while the second stage is to be completed by mid-2011. The total volume of investments will amount to about $315 million and $160 million for the respective stages.
Moreover, after the completion of the plant's construction, Tatarstan plans to build a new flat steel facility with an annual capacity of up to 500,000 mt.