VIZ-Stal, the Ekaterinburg-based subsidiary of the Russian steelmaker Novolipetsk Steel (NLMK), has announced that it commissioned the first of its eight new high-temperature annealing furnaces, with the remainder scheduled to be commissioned gradually up to the end of this year, after passing warranty tests.
The new furnaces will allow VIZ-Stal to improve the electromagnetic properties of steel, to increase its characteristics (grade, flatness, category), and to at least halve energy consumption per metric ton of steel.
The project, the total investment for which amounts to about Ruble 940 million (about $31.1 million), is being implemented together with German-based company LOI within the framework of VIZ-Stal's integrated program for technical reequipment of its transformer steel production, aimed at improving product quality and increasing production efficiency.
In 2010, VIZ-Stal's total investments for the modernization of its production facilities have been set at Ruble 640 million (about $21.2 million), i.e., 2.3 times more than in 2009.