NLMK Group continues construction of GO steel plant in India
NLMK Group has commenced the installation of metal structures for a new grain-oriented steel plant in the Maharashtra state of India. Main process equipment is currently being delivered to the site. The start of equipment installation is scheduled for late 2021, with commissioning works planned for the first half of 2022.
The plant will produce premium grain-oriented steels. NLMK will localize its final transformation stages in India: applying electrically insulated coating, straightening by annealing, cutting, and laser treatment of finished products. The plant’s capacity will total 64,000 tonnes of grain-oriented steel per year. Investment is estimated at $100-150 million.
The launch of captive production will enable the Company to substantially expand its presence on the Indian market, where NLMK Group currently has a 25% share in the grain-oriented steel segment.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has a highly competitive competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2019, the Company generated $10.6 bn in revenue and $2.6 bn in EBITDA. Net debt/EBITDA stood at 0.7х. The Company has investment grade credit ratings from S&P, Moody’s, Fitch, and RAEX (Expert RA).
NLMK’s ordinary shares with a 20.7% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1.
For more details on NLMK shareholder capital, please follow the link.
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