Ruspolymet to launch 1.14 bln rbl powder steel plant by 2018

NIZHNY NOVGOROD, Feb 14 (PRIME) -- Russian metallurgical company Ruspolymet plans to launch a 1.14 billion ruble plant to produce powdered high-speed steel billets for metal-cutting tools in the Sarov technological cluster in the Nizhny Novgorod Region, the company’s Board of Directors Chairman Viktor Klochai told reporters late on Monday.

The project will be implemented by Ruspolymet’s subsidiary Grankom under state industrial corporation Rosatom’s scientific and industrial cluster program and multi-industry holding AFK Sistema, he said.

“We are in a phase of signing a contract with a Western company for a transfer of modern technologies and equipment. The project’s goal is to substitute imports of billets for instrument production completely. We plan to sign the equipment supply contract in February and to launch construction in late March. I think we will be ready to receive the equipment by the end of the year and to start production by the end of the summer of 2018,” he said.

Grankom plans to produce billets with microcrystalline structure and with a strengthening nanophase. In 2016, the Nizhny Novgorod Region’s Investment Ministry said that Russia has no analogues of this production.

Ruspolymet is based in the Nizhny Novgorod Region and specializes in the production of seamless rolled and welded rings.

(58.0619 rubles – U.S. $1)

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