The Russian mining and steel producing company Evraz Holding (Evraz) is considering the construction of a second oxygen converter shop of 1.5-2 million mt capacity at its subsidiary Nizhny Tagil Iron and Steel Works (NTMK), Evraz CEO Alexander Frolov has said in an interview given to the Russian newspaper Vedomosti. The annual designed capacity of NTMK's oxygen converter shop amounts to 3.5 million mt of steel.
According to Mr. Frolov, Evraz's planned capital expenditure for this year has doubled compared to the previous year to $950 million.
As SteelOrbis previously reported, currently Evraz is carrying out reconstruction worth $440 million at the rail mill at its subsidiary Novokuznetsk Iron and Steel Plant (NKMK), which with its completion in 2012 will allow the plant to produce 25-meter and 100-meter high-speed rails. In addition, Evraz is implementing pulverized coal injection (PCI) technology in the production of pig iron at its Russian steel mills ZapSib and NTMK, which will allow it to discontinue using natural gas in blast furnaces by the end of 2012. The cost of this project is estimated at $300 million.
Mr. Frolov also said that Evraz is still very interested in strengthening its position in China. "I believe that in the future we will find a way to enter the Chinese market and increase our position there not only as a supplier but also as steel producer," Frolov said.