📩 24/11/2018 18:19
The Russian mining and steel production company Evraz Group has announced that it has signed a memorandum of understanding with the Russian Railways for a five-year supply of rail between 2013-2017.
Under the 90 billion RUR ($ 2,67 billion) contract, Evraz will supply the Russian Railways with 100 meters long rails, a new product in the Russian and CIS markets. The rails in question are used in high-speed train lines.
The final phase of the rail plant renovation in EVRAZ ZSMK is about to be completed. The rolling mill's capacity will increase to 950.000 mt per year. The total investment in the project is stated to be $ 520 million.
However, as a result of the $ 60 million renewal project underway at the EVRAZ NTMK rail plant, the rail production capacity at the plant will be 500.000 mt per year.