Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Russian steel manufacturer, Metalloinvest plans to provide RUB 460mn ($6.2mn) towards the reconstruction of heating furnace #2 at its OEMK plant to increase the volume of its total products by 300,000mt. 


The new furnace will be commissioned by December next year and Italian company Tenova will supply the equipment and services for this project, the company said in a statement on Monday.


With this reconstruction, the firm plans to eliminate a range of production defects, increase the output of high-quality rolled products, and decrease costs. 


($1=RUB 73.67)

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