Russia-based Lugas Metall, a subsidiary of German investment company Lugas, plans to invest about €200 million in the construction of a new mini-mill for the production of long steel products for construction and industrial purposes in Russia's Nizhniy Novgorod region.
Accordingly, the new mini-mill will have an annual capacity of one million mt of long products, including 6-40 mm rebar, 6.5-16 mm wire rod and 4.5-5.5 mm cable rod. About €120 million will be invested for the acquisition of equipment, while the rest will be used for the installation and construction works, which are scheduled to start in 2010.
The new mini-mill is planned to be commissioned in 2012.
Lugas Metall was registered in 2008 in Nizhniy Novgorod, and is mainly specialized in the primary treatment of pig iron and steel.