Novolipetsk Metallurgical Plant, the flagship site of NLMK Group, has begun construction and installation work as part of one of the key projects of Strategy 2022 - a complete reconstruction of the continuous casting machine (CCM) No. 9.
The new machine will be the final project in the development program of blast-furnace and steel-making production, which is aimed at increasing steel production by 1 million tons. The machine will also allow to master the production of a unique range of products - "heavy" slabs of increased chemical purity and structural homogeneity up to 400 mm thick and up to 2 800 mm wide. Such slabs are intended for processing into heavy-plate products, from which large-diameter pipes, wind power facilities, elements of sea vessels and oil drilling platforms are made.
Investment in the project will amount to 12 billion rubles. The new production complex will take the place of the old plant, which has already been dismantled. The unit's productivity will increase by 80% to 1.8 million tonnes of steel per year. It is planned to complete the construction of the continuous casting machine and begin production of new products in December 2019.
“The modernization of CCM-9 will allow the company to strengthen its competitive advantage in the global steel market by mastering a new product mix and premium quality products. In addition, this is an efficient growth project that makes the most of the Lipetsk site, "commented Konstantin Lagutin, Vice President of NLMK Group for Investment Projects.
Information about NLMK Group
NLMK Group is a vertically integrated metallurgical company, the largest in Russia and one of the world's most efficient producers of steel products.
NLMK Group metal products are used in various industries, from construction and mechanical engineering to power equipment and offshore wind turbines.
NLMK's production assets are located in Russia, Europe and the United States. The company's steel production capacity exceeds 17 million tonnes per year.
NLMK demonstrates high cost competitiveness among global manufacturers, the company's profitability is one of the highest in the industry. The company's revenue in 2018 was $ 12 billion, EBITDA was $ 3.6 billion. The Net Debt /EBITDA ratio was 0.25x. The company has investment grade credit ratings from S&P, Moody's, Fitch and RAEX (Expert RA).
NLMK's common shares, which free-float is 19%, are traded on the Moscow Stock Exchange (ticker “NLMK ”), Global depository shares - on the London Stock Exchange (ticker“ NLMK: LI ”). The share capital of the Company is divided into 5,993,227,240 ordinary shares with a par value of 1 Russian ruble. More information about NLMK's share capital can be found here.
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