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"Red October" get federal support

16 July 2015

Volgograd Steel Works «Red October» is about to implement a new project. It includes the organization of the territory of the rolled plate factory. This program was included in nine regional projects that have received the approval of the Ministry of Industry for grants. The plant can rely on federal support. When making a credit for industrial development to provide compensation to the base rate of the Central Bank. The investment project includes the installation of new production equipment. Its manufacturer — the Italian company «DANIELI». The equipment used for the manufacture of hot rolled plate. Its length is up to 20 thousand. Mm, width of 500 to 2850 mm.

Implementation of the project will combine the opportunity to enter a new market. This will create sustainable competitive production of rolled metal plate. Another plus — the possibility of import substitution to obtain high-quality wide plate. Areas of use — pipe and the nuclear industry, defense industry, shipbuilding.

Introduction to the new mill will produce the possibility of development and application of modern industrial technologies. They address issues to ensure the defense capability and economic development of the country. In this case it will be possible to create new jobs. Productivity increase, increasing revenues and operating personnel. The cost of the new project is 4.8 bln. RUB.

Given that Russia is actively implementing new projects for the production of metal, stainless steel delivery volumes continue to decline. The main reason for the gap may be considered a business relationship with Ukrainian enterprises. It is they who are the main consumers of Russian products. In the first 4 months of 2015 the volume of Russian exports of stainless steel decreased by 72.4% compared to 2014, amounting to 1082 tonnes. Compared with the same period of 2013 fell by 87.3%. The volume of domestic supply is not increased. On the contrary, a stainless steel rolled products fell by 6% compared with the data of 2014, which amounted to 24 094 tonnes. The issue of long products decreased by 8.6%. Volumes of production of flat products fell by 1.1%.

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