The Russian industrial group MAIR has announced plans to invest $100 million in the reconstruction of its Rostov region-based, longs subsidiary Sulinsky Metal Factory (STAKS).
As a result of the renovation work, which will be focused on the technical upgrading of STAKS and on the construction of a new scrap processing unit, the plant will be able to increase its annual crude steel production capacity from the current 180,000 metric tons to about one million metric tons, which will be further upped in the future to 1.2-1.3 million metric tons of crude steel.
In addition, following the completion of the current reconstruction at STAKS, MAIR will allocate $50-100 million in investments for the further modernization of the plant.