Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest has announced that it has commenced the technical re-equipping of two blast furnaces at its subsidiary Ural Steel.
The contract for the supply of the equipment upgrade has been signed with Netherlands-based engineering company Danieli Corus.
Commissioning of the first blast furnace is scheduled for the second quarter of 2020, with the second blast furnace due to be commissioned in the fourth quarter of the same year. The project which is being implemented as part of a strategic integrated development program for Ural Steel will require an investment of more than RUB 7 billion ($105 million).
Andrey Varichev, CEO of Management Company Metalloinvest, said, “The reequipping of blast furnaces is an important step in the development program for Ural Steel, which also includes the modernization of the electric arc furnace shop, the construction of a new air separation unit for outsourcing, and other projects. This program will significantly improve the efficiency of the enterprise and reduce its environmental impact.”