Interpipe to build new steel unit

On February 26, the Ukrainian steel and pipe producer Interpipe Corporation concluded an agreement with Italian Danieli for the supply of all necessary equipment for its new electro-smelting unit. The new unit, with an annual designed capacity of 1.32 million metric tons of crude steel, will be built on the premises of Interpipe's Nizhnedneprovsk Pipe Works (NDTZ) plant within a 26-month period. The $600 million worth project will fully satisfy Interpipe's needs in crude steel. In addition, within the 12 months following the beginning of production operations at the new unit, Interpipe plans to shut down its open-hearth furnace at NDTZ.