Belarus' new flats rolling complex in Zhlobin, the future joint venture (JV) between Byelorussian Iron and Steel Works (BMZ) and the leading Italian producer of steelmaking machinery and plants Danieli & C. Officine Meccaniche S.p.A. (Danieli), is planned to be constructed within a period of 30 months, with production to be started in March 2014, according to a statement from BMZ.
"By December 25 the full business plan must pass all necessary approvals and examinations by the Belarus government. After the decision on construction has been taken, the negotiation process with the banks will be started. The registration of the joint venture can take from nine to 12 months," BMZ's general director Anatoly Savenok said.
As SteelOrbis previously reported, the memorandum of intent for the construction of a new flats rolling complex in Belarus, which will have an annual capacity of 600,000 of hot rolled sheets in coils, was signed by BMZ and Danieli on November 17, 2010.