Mechel set to finalise 36m-euro investment in Oţelu Roşu in Q1

Mechel Russian group, which owns four steel plants in Romania, announced it is about to complete investment of around 36m euros in the Oţelu Roşu foundry, part of Ductil Steel Buzău company, with a capacity of 810,000 tonnes of unprocessed steel per year.
This is the biggest liquid steel production facility Mechel holds in Romania and it will supply all complexes of the group with raw material. Mechel also owns a foundry in Târgovişte cu a capacity of 500,000 tonnes of unprocessed steel per year.
"Today, one of the most important projects we have is to modernise the steel foundry of Oţelu Roşu. The modernised complex is due to start being operated in the first quarter of this year. I'd like to note the equipment of Oţelu Roşu will be the third of this type in the world and the first in Europe. The new technology will allow us to significantly cut costs," stated Victor Trigubko, a vice-president with Mechel group.