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MMK

January 17, 2018

MMK to build new sinter plant worth RUB 22 bln

Magnitogorsk Iron and Steel Works (MMK) is completing the final preparatory stage of work for the construction of a new sinter plant in Magnitogorsk. The current works include driving piles, laying foundations and installing the metal structures. The installation of the main technological equipment is planned for March 2018.

The total capital investment in the complex, which will provide an opportunity to significantly improve the quality of the sintered steel and reduce the environmental impact, amounts to approximately RUB 22 billion.

Work on the site began in December 2016 with construction of the electric substation No. 68. Currently, its construction and wiring are by around 90% completed. By the end of January beginning of February, it will be connected to the high voltage line, and by the end of February it will be ready for additional voltage supply for the construction site of the sinter plant. Currently, the builders are fully supplied with temporary supply of electricity.

In December 2017, MMK received around 2,500 tonnes of equipment from the Chinese company Sinosteel, the total deliveries of which should amount to 22,000 tonnes. The installation of the main technological equipment is scheduled for March, firstly on sinter machines No. 1 and No. 2.

The general contractors for construction work are JSC Montazhnik, JSC Prokatmontazh, LLC Stroitelnyi Kompleks, LLC Maglin and LLC OKS. The project is managed by JSC Magnitogorsk Gipromez.

The contract for the supply of equipment for sinter plant No. 5 was signed with Sinosteel Equipment & Engineering Co., Ltd on 2 November 2016. The document was signed by MMK's CEO Pavel Shilyaev and Sinosteel Chairman Lu Pengcheng. The cost of contract equipment amounts to RUB 6.7 billion.

The commissioning of a new sinter plant with a production capacity of 5.5 million tonnes of stabilised cooled sintered steel is planned for the end of 2019.

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing complex encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2016, the company produced 12.5 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2016 of USD 5,630 million and EBITDA of USD 1,956 million.

Investor Relations Department:

Andrey Serov, Head of IR

tel.: +7 (3519) 24-52-97

E-mail: serov.ae@mmk.ru

Communications Department:

Dmitry Bulin

tel.: +7 (499) 238-26-13

E-mail: bulin.dn@mmk.ru

Dmitry Kuchumov

tel.: +7 (499) 238-26-13

E-mail: kuchumov.do@mmk.ru

 

 

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