The Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has announced that despite the world economic crisis it is continuing the implementation of its strategically important investment projects which are scheduled to be completed by July 2009.
Accordingly, currently MMK is completing the construction of unique production facilities for plate production, which include the plate rolling mill 5000, the continuous slab caster No. 6 and the secondary steel treatment unit. Scheduled to be commissioned in July 2009, the mill will produce highly lucrative plate of up to 4,850 mm in width and of up to X100-X120 in strength, intended for the production of large diameter pipes for the oil and gas industry, and also for ship, bridge and heavy machine building sectors. The mill's annual capacity will be 1.5 million mt, including 300,000 mt of thermally treated steel plates. The total cost of MMK's plate mill project amounts to $1.4 billion. The mill will include a complete set of equipment from heating furnace charging devices to stacking mechanisms at the finished products' storage area.
In addition, also in July 2009, MMK plans to commission its polymer coating line No. 2 with a capacity of 200,000 mt per year.
When the global economic situation and steel markets gain stability, MMK plans to continue the construction of its cold rolling mill 2000 for the production of quality sheet for the automotive sector, and will also continue construction of its continuous hot dip galvanizing unit, of a new service center and a pressing plant in Kolpino city, in the St. Petersburg region.