Russian steelmaker Novolipetsk Steel (NLMK) announced that it is upgrading its continuous casting billet mill №3. Currently the company is installing the processing equipment supplied by the plantmaker Novokramatorsky. As a result of the modernization, the capacity of the mill will increase by 300,000 mt to 1 million mt.
The mill is scheduled to come on stream in October-November 2011. The company's investment in the project will amount to Ruble 3.7 billion ($0.13 billion).