NLMK Group has started the installation of steel structures for a new transformer steel plant in the state of Maharashtra in India. The main technological equipment arrives at the site. It is planned to complete construction and begin installation of equipment by the end of 2021. Commissioning and production launch are scheduled for the first half of 2022.
The plant will produce premium grades of transformer steel. In India, the company localizes the final stages of production: the application of electrical insulating coatings and straightening annealing, cutting and laser processing of finished products. The plant's capacity will be 64 thousand tons of transformer steel per year, investments are estimated at $ 100-150 million.
The launch of its own production will significantly increase the company's presence in the Indian market. NLMK Group currently holds 25% of the Indian market in the transformer steel segment.
About NLMK Group
NLMK Group is a vertically integrated steel company, the largest in Russia and one of the most efficient steel producers in the world.
NLMK Group's metal products are used in various industries, from construction and mechanical engineering to power equipment and offshore wind turbines.
NLMK's production assets located in Russia, Europe and the USA. 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 has investment grade credit ratings from S&P, Moody's, Fitch and Expert RA.
NLMK's common shares, which have a free-float of 20.7%, 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.
For more information about NLMK Group, visit the website.
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