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MMK to Continue Investment in Plate Mill 5000
11/26/2008 - Magnitogorsk Iron & Steel Works says that work will continue with its Plate Mill 5000 investment project, which will allow the company to produce plate for a wide range of applications.
MMK (Magnitogorsk Iron & Steel Works) announced that work will continue with its major investment project, which is identified as Plate Mill 5000.
The mill is set to produce plates up to 4800 mm wide with X120 strength characteristics for oil and gas industries, shipbuilding, machinery building and construction of bridges. “Agreements with TMK and Chelyabinsk Pipe Mill (ChTPZ) to take off our products are in place, as well as there is an agreement on cooperation with Gazprom regarding production of large-diameter pipes’, said MMK Vice President for Sales Vladimir Shmakov, speaking to a group of journalists. He noted that serious steps are bound to be taken to develop shipbuilding in Russia, as evidenced by creation of the first shipbuilding company. In addition, a comprehensive program has been worked out to develop bridge building, which should also contribute to higher demand for products from the new plate mill.
The mill is set to produce plates up to 4800 mm wide with X120 strength characteristics for oil and gas industries, shipbuilding, machinery building and construction of bridges. “Agreements with TMK and Chelyabinsk Pipe Mill (ChTPZ) to take off our products are in place, as well as there is an agreement on cooperation with Gazprom regarding production of large-diameter pipes’, said MMK Vice President for Sales Vladimir Shmakov, speaking to a group of journalists. He noted that serious steps are bound to be taken to develop shipbuilding in Russia, as evidenced by creation of the first shipbuilding company. In addition, a comprehensive program has been worked out to develop bridge building, which should also contribute to higher demand for products from the new plate mill.
The company said that the mill’s technological equipment is currently being installed. Sixteen of the 23 total bridge cranes from DHI (China) have been installed, and the turning roller conveyer and delivery tables have also been delivered. However, the heart of the shop—the rolling mill itself, with a maximum rolling strength of 12,000 tonnes—will be delivered in parts by railway from Germany. All components are expected to be delivered to MMK by the end of the year.
According to MMK Chairman Victor Rashnikov, the company plans to borrow funds from Russian banks in order to finalize construction. Commissioning of the plate mill is planned for 2009.
There is considerable market interest from Russian companies in completion of this project. According to Shmakov, the company’s management believes that the new plate mill will enjoy high levels of demand in the Russian market.
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