The Russian steelmaker Magnitogorsk Iron and Steel Works (
MMK) has signed a contract with Siemens-VAI on delivery of a new ladle furnace.
The new ladle furnace will be installed at
MMK's electric furnace melting workshop where two other ladle furnaces from Siemens-VAI are already in place. The installation of the third ladle furnace in the workshop will guarantee a continuous supply of crude steel to
MMK's
billet caster.
MMK started the development of the current project last October, expecting to finish it within 17 months of the signing of the ladle furnace delivery contract.
MMK has invested about Euro 8 million in the project.