MMK continues with its major investment project – Plate Mill 5000. According to MMK Chairman Victor Rashnikov, in order to finalize the construction it is planned to borrow funds from Russian banks and commission the plate mill in 2009.

Russian companies are interested in completion of the project. MMK Vice president for sales Vladimir Shmakov said that the company’s management is justified to state that the production of the plate mill will enjoy demand of the Russian market in the first line. The mill is set to produce plates up to 4800 mm wide with X120 strength characteristics for oil and gas industries, shipbuilding, machinery building and construction of bridges. “Agreements with TMK and Chelyabinsk Pipe Mill (ChTPZ) to take off our products are in place, as well as there is an agreement on cooperation with Gazprom regarding production of large-diameter pipes’, said Mr. Shmakov to journalists. Serious steps are bound to be taken to develop ship building in Russia; the first shipbuilding company has been created. A comprehensive programme has been worked out to develop bridge building. This all is bound to boost demand for the production of the plate mill.

Today technological equipment of the mill is being installed. Overall the shop requires more than 43 thousand tons of equipment. Seventeen thousand tons have already been delivered to the production site. 16 out of 23 bridge cranes by DHI (China) have been installed. The turning roller conveyer and delivery tables have been delivered to MMK already, yet the heart of the shop – a unique rolling cage with the maximum rolling strength of 12 thousand tons – is being taken in parts by railway from Germany. All the components of the cage are expected to arrive to MMK by the end of the year.