Evraz to invest $60 to expand rail wheel output by 78,000 units

MOSCOW, Oct 9 (PRIME) -- U.K.-based mining giant Evraz, which operates mainly in Russia, has started a $60 million expansion of a rail wheel production at its subsidiary Evraz Nizhny Tagil Metallurgical Plant (Evraz NTMK) by 78,000 units per year, Evraz said in a statement on Tuesday.

The company plans to launch two fully automated lines for full section manufacturing of rail wheels and a third inspection line in 2021.

“In recent years, we have seen a steady growth of the demand for railway wheels in Russia. Our focal point is to increase the company’s share in this segment and meet the growing needs of customers, so we decided to increase the production. On top of the current project, we are also considering the construction of a second wheel shop with a capacity of 200,000 wheels per year,” the company said quoting Vice-President for Sales and Logistics Ilya Shirokobrod.

End