Russian miner & steel maker Metalloinvest has signed an agreement with leading Russian suppliers of large diameter pipes for oil & gas pipelines and steel products for construction Zagorsky Pipe Plant to sell Ural Steel at Novotroitsk in Orenburg region of Russia. According to the agreement, ZTZ acquires 100% of JSC Ural Steel from Metalloinvest. The transaction is expected to close in February 2022.Metalloinvest will continue to supply Ural Steel with iron ore raw materials on market terms.Ural Steel is a full-cycle steel enterprise comprising sinter and coke production, steelmaking and rolling facilities. The enterprise is Russia's leading producer of bridge steel and a leading supplier of steel products for construction, pipe production and high-quality shipbuilding steel. In 2021, Ural Steel produced 2.4 million tonnes of pig iron and 1.5 million tonnes of steel.Ural Steel has been a part of Metalloinvest since 2006. Metalloinvest's total investment into the development of the enterprise amounts to about USD 1.2 billion, with a focus on developing and modernising production facilities as well as minimising the environmental impact of production. The decommissioning of the obsolete open-hearth technology and the modernisation of equipment have reduced emissions by more than a third compared to 2006. Since 2017, Metalloinvest has been implementing a comprehensive development programme 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 modernised and a new air separation unit was built.