TMK Forms JV for Production of Stainless Steel Flat Products
Russian Pipe Metallurgical Company TMK, a Metal-Expo regular exhibitor, and the Chelyabinsk Electrometallurgical Plant set up a joint venture LLC Russian Stainless Company RNK to implement a project for the production of flat stainless steel in the city of Volzhsky in Volgograd Region of Russia. RNK will be owned in equal shares by the Volzhsky Pipe Plant, which is part of TMK and CHEMK. It will become the operator of the project for the creation of a production complex, which is supposed to be located at the VTZ site. Currently, the project is being developed and the search for optimal solutions for its financing is underway. It is planned that the enterprise will produce up to 500 thousand tonnes per year of high-quality finished flat hot-rolled and cold-rolled steel from alloyed stainless steels and corrosion-resistant, heat-resistant and heat-resistant alloys.
Consumption of stainless steel in Russia currently amounts to about 300 thousand tonnes, while more than 90% of stainless steel flat products are imported. Over the past 10 years, the demand for these products in the country has grown by an average of 5% per year. The launch of modern stainless steel production will ensure the growing level of domestic consumption.