The largest Japanese general trading company Mitsubishi Corp. has proposed to Byelorussian Iron and Steel Works (BMZ) the creation of an export-oriented joint venture company for the production of flat steel.
Mitsubishi Corp. has already included this initiative in its program directed toward the development of exports for the 2006-2010 period. Meanwhile, BMZ has included the construction of new flat steel capacities in its strategic development plan for 2009.
According to BMZ's program, in 2009 the producer plans to start the construction of a new flat steel production facility at its premises which will have an annual production capacity of between 500,000 and one million metric tons. The mill is expected to commence production in 2011-2012.
Currently, BMZ is negotiating equipment supplies and the construction of the mill with potential partners. As for the Mitsubishi proposal, BMZ stated that its management will consider the offer from the Japanese company.