Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has announced that it has signed a contract with Luxembourg-based plantmaker Paul Wurth for a new investment project, the construction of its new blast furnace No. 11.
The project with an investment around $690 million is expected to take 3.5 years to complete.
The new blast furnace will have a production capacity of 3.7 million mt of pig iron per year. The construction of blast furnace No. 11 will allow three operating furnaces to be decommissioned and enable the company to reduce harmful emissions by 6,600 mt per year and carbon emissions by 1,123 mt per year.