Russian steelmaker Magnitogorsk Iron & Steel Works (MMK) has announced that it has signed an investment contract with Italian plantmaker Danieli for the modernization of its two-strand rolling mill No. 170 at its bar shop. The value of the contract amounts to €5.5 million and the project is expected to be completed in 2019.
The project includes the modernization of the cooling rolling conveyer of the mill with the replacement of existing fans with 16 new ones. The modernization will allow the mill to produce end products whose properties correspond to global and Russian standards for high carbon steel.
Commissioned in 2006, the rolling mill No. 170 has an annual capacity of up to 765,000 mt and is intended for the production of wire rods with a diameter between 5.5 mm and 22 mm, as well as rebars with diameters ranging from eight mm to 16 mm.