The Russian mining and steel producing company Evraz Holding (Evraz) will invest more than Ruble 1 billion (about $32.5 million) in the project for the modernization of railway wheel machining equipment at its subsidiary Nizhny Tagil Iron and Steel Works (NTMK), which is expected to be completed in 2011.
As part of the modernization program, which is to increase the plant's wheel machining capacity from 416,000 to 580,000 wheels per year, Evraz has signed a contract with German company NSH for the supply of a new automated railway wheel machining line at NTMK. Under the scope of the contract, in May 2011 NSH will deliver to NTMK six modern automated machine tools for wheel machining, with the equipment installation to be completed by August 2011.
In addition, Evraz is also to carry out an overhaul at NTMK's 18 existing machine tools and to equip them with numerical program control. In order to ensure the implementation of the production schedule during the overhaul, two new machine tools are to be acquired.