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Russia's Magnitogorsk Iron & Steel Works (MMK) plans to invest 14 billion rubles to construct a new foundry and forging workshop to reduce its reliance on imported forged rolls for cold rolling mills.
The new facility will have an annual production capacity of around 24,000 tons of forged products, allowing MMK to decrease the share of imported forged rolls from 80% to just 30%[1][2]. This investment is part of MMK's efforts to build a large import-substituting production facility focused on manufacturing forged work rolls and support rolls for cold rolling mills[2].
Citations:
[1] https://www.akm.ru/eng/news/mmk-will-invest-14-billion-rubles-in-the-construction-of-a-foundry-and-forging-workshop/
[2] https://www.akm.ru/eng/press/mmk-group-continues-to-build-a-large-import-substituting-production-facility/
[3] https://www.linkedin.com/posts/mmksteel_construction-energy-project-activity-6815651037018378240-wmFl
[4] https://www.steelorbis.com/steel-news/latest-news/
[5] https://www.mokmbs.com/english/
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