Russia-based leading global iron ore and hot briquetted iron producer Metalloinvest has announced that it will build a new electric arc furnace EAF No. 5 and a new integrated steel processing unit at its subsidiary Alexey Ugarov OEMK. Italian plantmaker Danieli will supply key process equipment and services.
The EAF No. 5 with an annual production capacity of 1.2 million mt of liquid steel is scheduled to be commissioned in 2023, while the integrated steel processing unit with an annual production capacity of 1.3 million mt will be commissioned in 2024. As part of the project, the EAF No. 2 will be decommissioned and replaced by the integrated steel processing unit.
The new EAF and the integrated steel processing unit will reduce production costs and improve steel quality. According to the company, the implementation of this project will reinforce Metalloinvest’s positions in Russia as well as abroad, as OEMK exports steel products to over 30 countries across Europe, Asia, Africa and South America. The new furnace will be the first to combine the use of 100 percent metallized pellets as raw materials and the smelting of high-quality special steel.
The company’s investment amounts to approximately RUB 6.4 billion ($84.74 million), and up to 30 new jobs will be created.
