Governor of Sverdlovsk Region Eduard Rossel chaired a meeting devoted to the prospective development of Sverdlovsk Region-based members of EvrazHolding; the meeting was attended by the company CEO Alexander Frolov.

It was reported in the course of the meeting that some 21 billion RUR had been invested in those enterprises’ re-equipment and renovation over the last three years, with the same amount of money received by the region’s budget. Over the next five years, the budget is expected to get at least 36 billion RUR, and EvrazHolding is apparently planning to invest 40 to 50 billion RUR in its companies.

Nizhniy Tagil Iron and Steel Works (aka NTMK), for instance, was able to renovate its blast furnaces 5 and 6, put up its fourth continuous casting plant, and do much else besides, such as keep on renovating its open-hearth process facilities. Then, an iron ore deposit is soon to be developed in Kachkanar since the current Gusevogorskoye deposit has been around for over fifty years now and is gradually petering out.

Some other points on the agenda were related to projects on increased rail and wheel production and setting up a plant meant for making large-diameter pipes at Nizhniy Tagil Iron and Steel Works. Mr. Frolov observed the tubular mill was not going to use its full capacity, since similar plants were under construction at several Russian enterprises. According to experts’ estimates, however, the existing and prospective plants will still not be able to meet the demand LDPs have been enjoying.

The spokesperson for the Governor reports the decision on whether to start putting up an LDP plant will have been taken by the end of the year.