EVRAZ and Russia’s Kemerovo province have signed an agreement to establish a new 2.5mn mt annual capacity casting and rolling mill at EVRAZ ZSMK.
EVRAZ will focus on high-value-added flat products for the domestic and export market. It plans to sell these products domestically in the Urals, Siberia, and in Far East Russia.
The hot rolling mill is expected to cost $650mn with commissioning slated in 2025 with 350 employees. In 2021, EVRAZ will allocate RUB600mn to implement the Clean Air program in Kuzbass, Kemerovo. The new site will be environmentally friendly with energy efficiency and minimum GHG emissions.
The Kemerovo economy is diversifying beyond the coal industry within the regional program until 2024 approved by Prime Minister Mishustin. Around RUB51bn ($708mn) of federal funding will be complemented by investments from private sources in the region of Kemerovo.
($1=72.14RUB)