EVRAZ to Make Rail Wheels in Titanium Valley

18 March 2020 (09:14)

UrBC, Yekaterinburg, March 18, 2020. EVRAZ Holding is planning on setting up a new rail wheel production facility in Titanium Valley Special Economic Zone in Sverdlovsk Region, EVRAZ Holding Ural’s Corporate Communications Center reports.

‘OOO Allegro, a joint venture run by EVRAZ and OOO Rail Service (a holding that owns a railcar-repair business), will be in charge of both the construction and the management of the wheel production facility. The project is estimated to require RUB 16 billion in investments. The new facility will be making 200,000 rail wheels a year (and up to 300,000 wheels a year if that should prove necessary). The production launch has been scheduled for 2022,’ the company says.

‘We see the rail wheel market as a promising one. Setting up a new wheel production site will make it possible to start making more produce that enjoys good demand,’ says EVRAZ Vice President and head of EVRAZ Holding Ural Denis Novozhenov.

‘Sverdlovsk Region Government is taking steps to promote investment activity in the area. This is one of the key tasks Governor Evgeny Kuivashev has assigned to the executive branch. So it only makes sense that we should support a new production facility in Titanium Valley Special Economic Zone in Verknyaya Salda, Sverdlovsk Region. The 425 prospective new jobs this project will create are particularly important for the area,’ says Vice Governor of Sverdlovsk Region Alexei Orlov.

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