The Russian steelmaker Novolipetsk Steel (NLMK) is to invest about Ruble 1 billion (approx. $31.7 million) in the 2009-2011 period in a technical upgrade program at its Nizhneserginsky Metalware-Metallurgical Plant (NSMMZ).
The investment in question is to allow NSMMZ to increase its crude steel production capacity to 2.3 million mt per year and its rolled steel product output to two million mt.
NSMMZ's technical upgrade program will include the construction of a new vacuum degasser with an annual capacity of 800,000 mt of steel, the modernization of its second continuous billet caster, and the reconstruction of its gas purification system.
NSMMZ is one of the main producers of billets and longs in Russia's Ural region. The steelmaker has an annual steel smelting capacity of 2.1 million mt, with an annual rolled steel product capacity of 1.4 million mt. As SteelOrbis previously reported, in July this year NLMK increased its direct ownership in NSMMZ to 57 percent.