Metalloinvest, a leading global iron ore and hot briquetted iron (HBI) producer based in Russia, has announced that its subsidiary Oskol Metallurgical Plant (OEMK) has opened a warehouse for the storage and shipment of finished products, which will enable it to increase production of rolled steel products, including high-quality rolled steel (SBQ), by 60,000 mt per year. The investment for the warehouse totals approximately RUB 320 million ($36.36 million).
“The launch of the warehouse enables OEMK to increase production of steel products at Rolling Mill 350 and the finishing plant, avoiding the risk of having insufficient capacity to store finished products before shipment. We have also gained the flexibility to plan shipments of large volumes of rolled steel for our key clients,” stated Andrey Ugarov, first deputy CEO, COO of Metalloinvest.