Russian steel producer MMK has signed a contract with German engineering services provider Paul Wurth to construct blast furnace No.11 that will have a 3.7mn mt annual pig iron production capacity.
MMK plans to invest around $690mn in the project which will be completed in 3.5 years.
The new blast furnace will allow MMK to decommission three other furnaces and improve the company’s economic and environmental production, it indicated in a statement on Tuesday. The furnace will have a working volume of 3,800 cubic meters with advanced technologies.
Installing this furnace will help the steel producer reduce its overall CO2 emissions by 6,600mt per annum and 1,123 mt through this project alone, MMK noted.