The Russian Rosspetssplav, which controls the country's ferroalloy producer Kluchevsky Ferroalloy Plant (KZF), chrome oxide plant Russian Chrome 1915 and Kluchevsky Enrichment Plant, has announced the creation of a new holding for production of special ferroalloys.
The new company has been already registered in Luxemburg under the name of Midural Industrials and currently consists of Rosspetssplav's assets, a German trading company and Congo-based niobium mining company Congo Russia Industry.
In 2008, Rosspetssplav plans to secure about $200 million via issuing eurobond to buy new assets both in Russia and abroad.
Rosspetssplav's President Sergei Gilvarg has forecasted a dramatic increase in demand for special ferroalloys from defense, aerospace and atomic energy industries in the next 10 years.