Mechel puts EUR 48.7 million into modernizing Ductil Steel complex

Russian company Mechel opened last week a modernized steelmaking complex at its Ductil Steel plant. The main result of the investments made at the Ductil plant was a COSS furnace, using a technology which allows for decreased energy and raw materials consumption and improved steel quality. The COSS installation at Ductil Steel Otelul Rosu is the first of its kind in Europe and the third in the world, says the firm. The COSS furnace can deliver 810,000 tons of raw steel per year.

“Finishing the investment project at the Otelu Rosu plant will allow us to provide raw material for all the group’s metallurgic plants in Romania. This will considerably cut our costs and increase the functioning efficiency of the plants we have in Romania,” said Igor Zyuzin, president of the OAO Mechel board of administration.

Zyuzin was in Romania last week at the official opening of the investments. He was ranked by Forbes as the 113rd richest person in the world in 2010. While in Romania he met President Traian Basescu and the prime minister, Emil Boc.