NLMK Group has started the installation of metal structures for a new grain-oriented steel plant in the Indian state of Maharashtra. The main process equipment is currently being delivered to the site. Construction is scheduled to end and equipment installation to begin, commissioning work in late 2021 and the start of production in the first half of 2022.
The plant will produce premium grain-focused steels. NLMK will localize the final conversion stages in India: applying electrically insulated coating, flattening by annealing, cutting and laser processing of finished products. The plant's capacity will be a total of 64,000 tons of grain-oriented steel per year. The investment is estimated at $100-150 million.
The launch of stationary production will enable the Company to significantly expand its presence in the Indian market, where NLMK Group currently holds a 25% share in the grain-oriented steel segment.
About NLMK Group;
NLMK Group is one of the largest steel producers in Russia and one of the most efficient in the world.
The NLMK Group's steel products are used in a variety of industries, from construction and machinery manufacturing to the manufacture of power generation equipment and offshore wind turbines.
NLMK operates production facilities in Russia, Europe and the United States. The company's steel production capacity exceeds 17 million tons per year.
NLMK has a highly competitive cash cost among global producers and one of the highest levels of profitability in the industry. 12A In 2019, the Company generated revenue of $10.6 billion and EBITDA of $2.6 billion. Net debt/EBITDA was 0.7х. The company holds investment-grade credit ratings from S&P, Moody's, Fitch and RAEX (Expert RA).
20.7% of NLMK's publicly traded ordinary shares are traded on the Moscow Stock Exchange ("NLMK") and its global depository shares are traded on the London Stock Exchange ("NLMK:LI"). The capital of the company is divided into 5,993,227,240 shares with a nominal value of 1 RUB.
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