Leading Russian iron ore, HBI producer & steel producer Metalloinvest has announced the completion of the sale of its 100% stake in Ural Steel in the city of Novotroitsk in Orenburg region of Russia to leading steel pipe maker Zagorsk Pipe Plant. The acquisition of Ural Steel will allow ZTZ to form a vertically-integrated holding company and significantly expand the company's capacity to supply iron and steel products to both Russian and international markets.Metalloinvest will continue to provide Ural Steel with iron ore on market terms. Export operations between Ural Steel and Metalloinvest Trading AG will also continue.Ural Steel has been a part of Metalloinvest since 2006. Metalloinvest's total investment into the development of the enterprise amounted to about USD 1.2 billion, with a focus on developing and modernizing production facilities as well as minimizing the environmental impact of production. The decommissioning of the obsolete open-hearth technology and the modernization of equipment has reduced emissions by more than a third compared to 2006. Since 2017, Metalloinvest has been implementing a comprehensive development program at Ural Steel. In 2019, the reconstruction of electric arc furnaces was completed with the introduction of the innovative Flexible Modular Furnace technology. A unified integrated financial and business management system based on SAP S/4 HANA was implemented at the enterprise. In 2021, Blast Furnaces #2 and #3 were reconstructed, the enterprise’s combined heat and power plant was modernized and a new air separation unit was built.In 2021, Ural Steel produced 2.4 million tonnes of pig iron and 1.5 million tonnes of steel.