Evraz modernises rail mill at NKMK, Russia
October 28 2010 - 2:06AM
UK Regulatory
TIDMEVR
RNS Number : 1459V
Evraz Group S.A.
28 October 2010
Evraz Completes First Stage of Rail Mill Modernisation at NKMK
28 October 2010 - Evraz Group S.A. (LSE: EVR) ("Evraz") has completed the first
stage of the rail mill modernisation at NKMK, one of Evraz's Russian steel
plants located in Novokuznetsk, Siberia, with a capacity of 750,000 tonnes of
rails per annum.
Installation of state of the art equipment will ensure premium quality of rails
and satisfy requirements of the most advanced Russian and European standards for
rail geometry and steel purity. Due to their enhanced quality characteristics,
these rails can be used in high speed transportation, and can be sold at a
premium compared to standard rails.
The investment under the first stage of the NKMK rail mill modernisation was 44
million euros. Completion of the second stage is scheduled for 2012. Once the
modernisation is complete, NKMK will launch the production of 100-metre rails
for high-speed transportation - a unique premium product.
Evraz is the world's largest rail producer, and the only producer of rails in
Russia. Evraz operates two rail mills in Russia (NKMK, and NTMK in Nizhy Tagil,
Ural Region) and one mill in the USA (Rocky Mountain, Colorado). Evraz's total
rail mill capacity is more than 1.6 million tonnes per annum, including more
than 1.1 million tonnes of rails in Russia.
Commenting, Alexander Frolov, Evraz Group's CEO, said, "Modernisation of Evraz's
rail production in Russia, in particular at NKMK, strengthens our position as a
world leading rail producer. We are aware of the growing demand for higher
quality and longer rails in our key markets and interest for such rails from our
major customer in Russia, OAO RZhD - Russian Railways, and invest in modernising
our production capacities in order to meet this demand."
###
For further information:
Media contact:
Alex Agoureev
VP, Public Relations
+7 985
122 4822
media@evraz.com
Investor contact:
Alexander Boreyko
Director, Investor Relations
+7
495 232 1370
ir@evraz.com
Evraz Group S.A. is a large vertically-integrated steel, mining and vanadium
business with operations in the Russian Federation, Ukraine, Europe, USA, Canada
and South Africa. The Company was ranked the 14th largest steel producer in the
world based on crude steel production of 15.3 million tonnes in 2009. Evraz's
internal consumption of iron ore and coking coal is covered by its mining
operations. Evraz's consolidated revenues for the six months ended 30 June 2010
were US$6,379 million and consolidated adjusted EBITDA amounted to US$1,554
million.
This information is provided by RNS
The company news service from the London Stock Exchange
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