Mechel Reports Launching Production of Import-Substituting Wire Ropes at Beloretsk
04 Dicembre 2018 - 11:40AM
Mechel PAO (MOEX: MTLR, NYSE:
MTL), one of the leading Russian mining and metals
companies, launching a new facility for output of
import-substituting multi-strand steel ropes at Beloretsk
Metallurgical Plant.
The Republic of Bashkortostan’s acting Head
Radiy Khabirov, Director of Russia’s Industry and Trade Ministry’s
Metallurgy and Materials Department Pavel Servatinsky, First Deputy
Director of Russia’s Industrial Development Fund Andrei Manoilo,
Chairman of Mechel PAO’s Board of Directors Igor Zyuzin, Mechel
PAO’s Chief Executive Officer Oleg Korzhov and Beloretsk
Metallurgical Plant’s Chief Executive Officer Viktor Kamelin
attended the ceremony.
Equipment produced by Germany’s Sket
Verseilmaschinenbau GmbH enables stranding 6-12 strand ropes up to
90 mm in diameter, while an extruder made by Austria’s Rosendahl
may coat with polymer both separate strands and the rope as a
whole. Plastic protects the ropes from external and internal
abrasions, decreases the impact of impact loading and contact
stress, shields them from aggressive environments and difficult
climatic conditions and ensures a longer life for both the rope and
other expensive parts. Polymer-coated ropes will replace their
imported counterparts in mining and oil industries as well as
engineering, bridge construction and shipbuilding.
Beloretsk Metallurgical Plant began implementing
the project on producing import-substituting ropes in 2015. The
project cost a total of some 511 million rubles. In 2016, the plant
was granted a concessionary loan from Russia’s Industrial
Development Fund for over 255 million rubles. The plant supplied
the remaining half of required funding. In 2017 the project was
listed among the Republic of Bashkortostan’s priority projects.
The facility’s annual capacity is 15,000 tonnes.
Its launch has created 68 new highly productive jobs.
“This new facility will help improve labor
efficiency, create new highly qualified jobs, increase the volume
of wire ropes on the domestic market and, in the future, foreign
markets as well. Launching a modern facility for producing a wide
range of quality wire products creates an opportunity for replacing
imported analogues in mining and oil industries as well as bridge
construction and shipbuilding. Throughout its history, Beloretsk
Metallurgical Plant has been a pioneer in developing and
implementing innovative technologies in hardware production,”
Russia’s Industry and Trade Minister Dmitry Manturov said in an
address that was read at the ceremony by Director of Russia’s
Industry and Trade Ministry’s Metallurgy and Materials Department
Pavel Servatinsky.
“Both in our country and our republic in
particular it is not often that we launch major industrial
facilities. This is a great and happy event for us. This project
has won the Industrial Development Fund’s support, and that gives
us reason and hope to believe it will be the first of many. Today
our colleagues joined forces with Beloretsk Metallurgical Plant in
preparing an even bigger project of over 1 billion rubles for the
plant’s development. This means not only the plant’s upgrade and
transfer to best available technologies, but also more jobs, better
salaries, improvement of social status and an overall increased
stability of our republic’s economy. I wish the plant’s staff luck
and prosperity,” the Republic of Bashkortostan’s acting Head Radiy
Khabirov said.
“In 2016, the Industrial Development Fund has
granted Beloretsk Metallurgical Plant a concessionary loan of 255
million rubles as part of the Development Projects program. We lent
our support to the Beloretsk project as it is import substituting
and creates a product that has not been manufactured in our country
before. Moreover, our borrower’s products are much cheaper than
their foreign counterparts and will be in demand in various
industries,” Russia’s Industrial Development Fund’s Director Roman
Petrutsa said.
“We developed this project prompted by the
intense need of our clients — mining companies — for domestic
counterparts of imported multi-strand ropes, including
polymer-coated ones. We are grateful to the Industrial Development
Fund for their support. Granting us this loan was proof of the
state’s trust in both our plant and the company as a whole,” Mechel
PAO’s Chief Executive Officer Oleg Korzhov noted.
“We have successfully tested polymer-coated
ropes on excavators at our own mining facilities. They showed that
Beloretsk Metallurgical Plant’s new ropes can hold their own
against foreign analogues while their price is more attractive,”
Beloretsk Metallurgical Plant’s Chief Executive Officer Viktor
Kamelin summarized.
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Mechel PAOEkaterina VidemanTel: + 7 495 221 88
88ekaterina.videman@mechel.com
***
Mechel is an international mining and steel
company. Its products are marketed in Europe, Asia, North and South
America, Africa. Mechel unites producers of coal, iron ore
concentrate, steel, rolled products, ferroalloys, heat and electric
power. All of its enterprises work in a single production chain,
from raw materials to high value-added products.
***
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may contain projections or other forward-looking statements
regarding future events or the future financial performance of
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