Synopsis:
Magnitogorsk Rolling Mill Plant, a part of MMK Group, initiates a RUB 12 billion investment to construct a steel rolls shop. This endeavor aims to double production, creating high-quality products for import substitution. The facility, equipped with innovative technology, will meet a significant portion of Russia's demand and generate job opportunities.
Article:
The Magnitogorsk Rolling Mill Plant, under the umbrella of MMK Group, is embarking on a significant endeavor to bolster its production capacity of mill rolls. With a substantial investment of approximately RUB 12 billion, the construction of a state-of-the-art steel rolls shop is underway, signaling a pivotal moment in the company's expansion strategy.
The primary objective of this substantial investment is to establish a cutting-edge manufacturing facility capable of producing high-quality products essential for import substitution. Among these products are support steel rolls for hot-rolling mills and work rolls tailored for MMK's hot-rolling mill 5000.
Upon completion, the new facility is poised to significantly augment the plant's output, doubling the production of finished products from 17 thousand to 33 thousand metric tons annually. Furthermore, it is projected to fulfill approximately 70% of the Russian market's needs, underscoring its critical role in the nation's industrial landscape. Additionally, the establishment of the new shop will create 141 job opportunities, contributing to local employment.
Innovative technology is at the core of this ambitious project, with the development of a unique production method for support rolls in collaboration with Nosov Magnitogorsk State Technical University. This partnership underscores MMK's commitment to excellence and continuous innovation in manufacturing processes.
Located within the MMK Industrial Park, the new shop will leverage income- and property-tax benefits, enhancing the project's economic viability. Magnitogorsk Gipromez, the project's chief designer, has already formulated key technical solutions for the main workshop building and infrastructure, ensuring efficient progress.
Supported by the Industrial Development Fund, the government of the Chelyabinsk region, and MMK, this project enjoys robust backing from various stakeholders. The first phase is slated for completion in 2025, with the entire project expected to conclude the following year, marking a significant milestone in MMK's growth trajectory.
Conclusion:
In conclusion, MMK Group's ambitious plan to double mill rolls production heralds a new era of growth and innovation in the steel industry. Through strategic investments, collaborative partnerships, and adoption of cutting-edge technology, MMK is poised to meet market demands, drive import substitution, and contribute to economic development. The project's completion will not only enhance MMK's competitive edge but also foster job creation and stimulate regional growth.
Source: STEELGURU
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