The Russian steelmaker MMK Group has announced an investment of RUB 21.4 billion in a new foundry and forging shop, which will have an annual production capacity of 25,000 mt. The producer's new mill will introduce new products to the local market and CIS countries, thereby reducing Russia's dependence on imports. The first stage of the project is planned for completion by 2026, with the second stage to follow by 2027.
Due to sanctions, the main manufacturers of forged rolling rolls and high-quality forgings have stopped delivering to Russia. MMK’s new facility will produce forged working rolls for cold rolling mills, support rolls for hot and cold rolling, forging parts, and ingots weighing up to 120 mt. The project is expected to generate RUB 3.3 billion in EBITDA.
MMK’s investment also includes a new machine-building shop where truck bodies, converter bodies and support rings, steel, slag and cast iron trucks, foundry ladles, mixers, car dumpers, hot-air furnace domes, and equipment for continuous casting machines will be produced.
