Novokramatorsky Machine-building Plant (NKMZ), one of the largest machine-building plants in Ukraine, has announced that during the first quarter of 2009 it will continue work on the reconstruction of MMK's hot rolling mill 2500.
The difficulties experienced in product sales by Russian steel producer Magnitogorsk Iron and Steel Works (MMK) have placed the financing of its 11 major expansion projects under threat. However, due to measures undertaken by MMK's management, the company will be able to continue the implementation of its main technical re-equipping projects, including the reconstruction of its hot rolling mill 2500, which started in July 2007 and which is scheduled to be completed by 2010.
The reconstruction of the hot rolling mill 2500 will allow MMK to increase the production capacity of the mill to 5 million mt per year, and to produce coils and sheets for pressure vessel construction, shipbuilding and bridge building industries. Moreover, the range of sizes and steel grades produced at this mill will broaden, and the production of quality input material in coils will be ensured for further production of cold rolled strip and coated strip.