27 March 2012
ОАО Severstal (“Severstal” or the “Company”), one of the world’s leading vertically integrated steel and steel related mining companies, announces that its Cherepovets Steel Mill, part of the Severstal Russian Steel Division and one of the world's largest standalone integrated steelworks by capacity, is poised to build a ball-rolling mill worth around RUR 150 million to ramp up its business efficiency.
Alexander Grubman, CEO of Severstal Russian Steel, commented: “The decision to build the mill has been made with due regard for requirements of Severstal’s raw material producers, where this product is used in ball mills for ore degradation.”
The mill’s annual capacity will be 30 thou tons of grinding balls measuring 20 to 60 mm in diameter. The ball-rolling mill construction project is slated for completion in the 2nd quarter of 2013.
Once completed, the project will make it possible to fully localize the production of steel balls and waive the services of third party manufacturers.
The annual economic effect from such replacement is expected to be as high as RUR 100 million.