MMK METIZ Keeps Investing in Upgrades

11 October 2019 (09:05)

UrBC, Magnitogorsk, October 11, 2019. Magnitogorsk Iron & Steel Works (MMK) Group’s MMK METIZ keeps implementing its five-billion-ruble investment program, Senior Manager for Further Development & Retooling at MMK METIZ Konstantin Kuranov said at the 8th All-Russian Wire & Fitting Exhibition (Provoloka-Krepezh 2019) in Moscow.

According to Kuranov, Chelyabinsk Region’s Economic Development Ministry and MMK METIZ signed a contract in 2017 to implement their metal goods production upgrade program together; under the terms of the program, the plant is expected to manufacture RUB 39bn worth of metal goods by 2025. MMK METIZ is also expected to save RUB 423 through tax relief schemes.

‘The investment program has been adopted for the years 2017-2025. The program covers merging our two current production sites into one in order to use the facilities more efficiently and to save on energy spending. 120 equipment units have been transferred to their new locations within the last two and a half years. The secondary site is scheduled to shut down in the last quarter of 2019. The program is also expected to result in more developed power infrastructure, with new, energy-efficient technologies and appliances. Additionally, 75 new units of hi tech fitting-, wire-, rope-, and calibrated steel-making equipment will be launched at the plant,’ says MMK’s Information & PR Department.

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