Last checked at 20 Dec 2013 10:06
EVRAZ has launched its rolling mill in Kostanay
20 December 2013 - EVRAZ plc (LSE: EVR) ("EVRAZ" or the "Company") announces completion of construction and launch of its light-section rolling mill in Kostanay (the "Mill"), Kazakhstan. The investment project has been implemented by TOO Evraz Caspian Steel, a joint venture between EVRAZ (65%) and Kazakhstani company Caspian Group (35%).
The construction of the plant, which has a planned production capacity of 450 thousand tonnes of rebar per annum, took two and a half years, with a project spend amounting to US$131 million. Billets are supplied by EVRAZ ZSMK, products include rebar of various length with diameter from 10 to 40 mm and unique EVRAZ rebar A500(SP) that allows to save up to 25% of metal during construction works. Products from the mill will be delivered to the Kazakhstan market which has been demonstrating steady growth in the past few years - as well as to other countries in Central Asia.
The Mill is constructed according to a cutting edge design plan which utilises state of the art equipment and technology. General supplier of equipment is Siemens SPA (Italy). Special attention was paid to environmental issues; for example, care has been taken that any negative effect on local water bodies is prevented.
"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," noted EVRAZ CEO Alexander Frolov.
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For further information please contact:
Media contact:
Vsevolod Sementsov
Vice President, Corporate Communications
London: +44 207 832 8998 Moscow: +7 495 937 6871
media@evraz.com
Investor contact:
Sergey Belyakov
Director, Investor Relations
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
EVRAZ is a vertically integrated steel and mining business with operations in the Russian Federation, Ukraine, Kazakhstan, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top 20 largest steel producers in the world based on crude steel production. In 2012 EVRAZ produced over 15.9 million tons of steel. A significant portion of the Company's internal consumption of iron ore and coking coal is covered by its mining operations. EVRAZ's consolidated revenues for the year ended 31 December 2012 were US$14,726 million and consolidated EBITDA amounted to 2,012 million . EVRAZ's consolidated revenues for the first half of 2013 were US$7,362 million and consolidated EBITDA amounted to US$939 million.