It is reported that Ukrainian steel maker Vorskla Steel will start construction of a EUR 700 million rolling mill in the Hungarian city of Fenyeslitke in the first half of 2009.

Mr Bertalan Szentpeteri MD of Vorskla's Hungarian unit told MTI that the preparation phase of the investment has been closed and Vorskla is now looking for favorable conditions for financing for the project.

The plant will take two and a half years to build. First, a hot-rolled mill with annual capacity of 3 million tonnes will be built. Later, capacity of the mill will be expanded to a yearly 5 million tonnes of hot rolled and 1 million tonnes of cold rolled product.

(Sourced from By MTI-ECONEWS)