Evraz Group puts off renovations at NTMK

16 April 2010 (13:44)

Evraz Group was forced to put off its rail facilities reconstruction program at Nizhniy Tagil Iron & Steel Works (NTMK) last year, Evraz Group President Alexander Frolov said in his interview to Kommersant.

‘Before the start of the recession, we were planning to renovate two of our works – the one in Nizhniy Tagil and the one in Novokuznetsk. Now we have to limit our efforts to the latter. We are to invest about ?300m in Novokuznetsk Iron & Steel Works over the next three years. ?50m have already been spent on advance payments for the machinery this year. As a matter of fact, we believe in competition on the railway market and would like to have several suppliers to choose from, as Russian Railways is sometimes quite difficult to negotiate with,’ Alexander Frolov explained to Kommersant.

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