MOSCOW, December 20. /ITAR-TASS/. Steel making and mining company Evraz plc (UK) mainly operating in Russia has finished a 30-month construction project and commissioned a new light-section facility in Kostanay, the Republic of Kazakhstan, the company reported.
The investment project has been implemented by Evraz Caspian Stal, a joint venture with its 65 percent owned by Evraz and 35 percent held by the Kazakh Caspian Group.
The $131-million rolling mill with a planned capacity of 450,000 tonnes of rebar a year, with bar steel to be supplied by Evraz ZSMK (Kemerovo region), will produce rebar of various length with diameters ranging from 10 to 40 millimetres for sales on the Kazakh market, which has demonstrated steady growth recently, and other Central Asian countries, the report goes.
“Together with our partners we have constructed a modern mill to produce high-margin products in strong demand in Central Asian markets. Among the advantages of the new rolling mill is its technological link with EVRAZ ZSMK,” said EVRAZ CEO Alexander Frolov.
Evraz is one of the world’s largest vertically integrated steel making and mining companies with assets located in Russia, Ukraine, Europe, the US, Canada, and South Africa employing over 110,000. Last year Evraz reduced steel output 4.9 percent to 15.9 million tonnes, and output of steel products - by 4 percent to 15.7 million tonnes.