-(220-x-200-px)-(130-x-130-px)-(220-x-200-px).jpg?lang=en-US&ext=.jpg)
Veolia.gif?width=200&height=200&mediaprotectionhash=4deca34a0d5a00013b5a0ccdc2dcf98fd2c17aabb57eb7bbb27200552f29c247&ext=.gif)
Mechel CEO Attends Hyundai Steel Blast Furnace Commissioning
04/13/2010 - Mechel OAO CEO Igor Zyuzin participates in Hyundai Steel’s commissioning of a new 4 million tonnes/year blast furnace at the company’s steel mill in Dangjin.
Mechel OAO CEO Igor Zyuzin recently participated in Hyundai Steel’s blast furnace commissioning ceremony at the company’s steel mill in Dangjin.
With an estimated annual output volume of about 4 million tonnes of pig iron, the newly launched blast furnace will be one of the largest in the world. In 2010 it is expected to produce approximately 2.5 million tonnes of pig iron.
Hyundai Steel plans to launch a second blast furnace with similar parameters at this plant in the late 2010. When the project is completed, the plant’s production capacity would amount 8 million tonnes of pig iron per annum.
Mechel and Hyundai Steel signed a long-term coking coal supply agreement in February 2009. Under this agreement, hard coking coal produced by OJSHC Yakutugol will be supplied to Hyundai Steel during 5 years starting from April 1, 2010.
Within the framework of this agreement, in June 2009 Mechel Trading AG, Mechel group’s exporting company, and Hyundai Steel signed a contract to deliver coal via Mechel group’s trade port Posiet.
“It’s a great pleasure for us to see the success of our partners from Hyundai Steel”, Said Mechel CEO Igor Zyuzin after the ceremony. “Construction of the pig-iron production facility in Dangjin is actually a large-scale and challenging project, and one of its most important stages has been successfully completed today.
“We started our cooperation with Hyundai Steel last February and highly appreciate the results of our joint efforts, continued Zyuzin. “We are ready to support our partners’ endeavors to develop and expand their blast furnace steel production by supplies of our coking coal. All the more, we will both benefit while using Mechel’s own logistic capacities.
“Additional advantage for us is convenient geography position of our companies towards each other”, added Zyuzin.
In addition to Mechel’s Zyuzin, Hyundai Steel’s blast furnace commissioning also was attended by the South Korean President Lee Myung-bak, South Korean Minister of Knowledge Economy Choi Kyung-hwan, Chairman of the Federation of Korean Industries Cho Suck-rae, Chairman of Hyundai-Kia Automotive Group Chung Mong Koo and other representatives of government and business.
Mechel, one of the leading Russian companies, unites producers of coal, iron ore concentrate, nickel, steel, ferrochrome, ferrosilicon, rolled products, hardware, heat and electric power. Its business includes four segments—mining, steel, ferroalloy and power—and its products are marketed domestically and internationally.
