The Russian company TESO Engineering, specialized in the modernization and construction of steel producing facilities, has developed a project for the construction of a new steel mill in the town of Surovikino in Russia's Volgograd region, which is to be presented at the VIII International Investment Forum Sochi 2009 to be held on September 17-20 in the southern Russian city of Sochi.
The main purpose of the project in question, which is to be proposed to potential investors at the forum in Sochi, is the creation of an effective small capacity steel mill that will produce about 120,000 mt of finished steel products per year for the domestic construction market. New innovative technologies are planned to be used during the implementation of the project which is to cost about Ruble 1 billion (approx. $31.87 million). An estimated 22 months will be required for the construction of the new steel mill.