The Russian steel producer ESTAR Holding (ESTAR) has announced that the hot testing of the main equipment at its Rostov-based subsidiary Rostov Electrometallurgical Works (REMZ) has been successfully completed and that REMZ has commenced production of its first commercial product, i.e. billet.
REMZ, which is also planning to produce rebar, aims to supply its products to both the Russian domestic market and also for export, to countries such as Iran and Turkey which are experiencing a construction boom at the moment.
ESTAR invested a total of Ruble 4 billion ($161.4 million) in the construction of REMZ.