Byelorussian Iron and Steel Works (BMZ) has announced that that in 2009 the company expects to invest a total of BY Ruble 240 billion (approx. $86.33 million), up ten percent year on year, in the implementation of its investment programs and innovation projects, aimed at expanding its steel production.
In July, BMZ commissioned new capacities for the production of steel fibers, and by the end of 2009 plans to complete its biggest investment project for the last two years for the upgrading of the continuous billet caster No. 3 at its electro-smelting shop No. 2, which will allow the company to increase its capacity to up to one million mt per year. As SteelOrbis previously reported, as a result of the modernization, BMZ's caster will also be able to produce round billets of 200 mm diameter for the production of hot rolled seamless pipes at the plant's seamless pipe production line, thereby allowing the company to reduce its production costs.