Interfax reported that Mr Vladimir Lisin CEO of Novolipetsk Steel during a meeting with Mr Vladimir Putin prime minister of Russia said that NLMK is building a steel mini mill in the Kaluga region that will be capable of processing all scrap metal generated in the Moscow region.

Mr Lisin said "We're building a plant in the Kaluga region, planned 1.5 million tonnes per annum. We commissioned a new rolling mill in the Sverdlovsk region this year.”

Mr Lisin said a new blast furnace under construction at NLMK's main production site in Lipetsk will be capable of boosting crude steel output 40%.

The project, the first of its kind in the post Soviet period, will cost more than USD 1.5 billion.

NLMK's other priorities include developing production of automobile sheet and grain-oriented steel.

(Sourced from Interfax)