It is reported that Russia-based Lugas Metall a subsidiary of German investment company Lugas plans to invest about EUR 200 million in the construction of a new mini-mill for the production of long steel products for construction and industrial purposes in Russia’s Nizhniy Novgorod region.

Accordingly, the new mini mill will have an annual capacity of one million tonnes of long products, including 6mm to 40 mm rebar, 6.5mm to 16 mm wire rod and 4.5mm to 5.5 mm cable rod. About EUR 120 million will be invested for the acquisition of equipment, while the rest will be used for the installation and construction works, which are scheduled to start in 2010.

The new mini-mill is planned to be commissioned in 2012.

(Sourced from SteelOrbis)
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