Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has announced that it has signed a contract with Germany-based plantmaker SMS Group regarding the supply of equipment to be used in the reconstruction of hot rolling mill 2500 at its sheet rolling plant No. 4. Under the terms of the contract, the equipment will be supplied over a period of three years.
According to MMK’s statement, the reconstruction of mill 2500 is part of its long-term strategic development program and is aimed at modernizing the finishing facilities, and in particular improving the automated control system for technological processes.
Pavel Shilyaev, CEO of MMK, stated that the reconstruction of mill 2500 is part of MMK’s 2025 Strategy and added that, upon its completion, MMK will benefit from expanding its product mix, reducing production costs and increasing the mill’s capacity with a potential increase of 500,000 mt to annual production volumes.