MMK to invest $350 million to expand production
Recent market news reports that Russian mill Magnitogorsk Metallurgical Combine (
MMK) is planning to invest $350 million to expand
production of crude steel and value-added steel.
To expand
production of value added products,
MMK is planning to install two continuous casting machines, which will produce 2 million tons of
billet.
Moreover,
MMK is reported to have signed an agreement with the Austrian firm Voestalpine Technologie AG for the establishment of two electric furnaces, which will expand crude steel
production by 2 million tons.