Russian steelmaker NLMK Group has announced that it has signed a general agreement of strategic cooperation with South Korea-based POSCO Engineering & Construction to jointly implement investment projects to modernize blast furnace, steelmaking and rolling operations at NLMK's Lipetsk production site.
Projects implemented as part of the agreement are aimed at boosting the efficiency of technological processes, including hot-end operations, and controlling the quality of products at NLMK's main production site, implementing best practices and advanced technologies, for instance, for pre-painted steel production, and mastering new types of high value-added (HVA) products.
Under the agreement, NLMK and the South Korean company are going to cooperate in the area of equipment and technology supplies, planning and implementation of investment projects, automation and project management.