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TMK sets up a JV to make stainless steel flat-rolled products

TMK and Chelyabinsk Electrometallurgical Integrated Plant (CHEMK) have launched Russian Stainless Company (R.S.C.), a joint venture to implement a project to manufacture stainless steel flat-rolled products in Volzhsky, Volgograd Region.

R.S.C., a 50-50 joint venture between Volzhsky Pipe Plant (part of TMK) and CHEMK, will be the operator of the project to build a production complex planned to be located on the Volzhsky Pipe Plant site. The partners are now working on the project definition and looking for best solutions to finance the project.

The JV is expected to produce up to 500 thousand tonnes of high-quality finished hot- and cold-rolled products from alloyed stainless steels and corrosion-, heat- and creep-resistant alloys.

Russia currently consumes about 300 thousand tonnes of stainless steel, importing over 90% of stainless steel flat-rolled products. Demand for these products in Russia grew at a CAGR of 5% over the past 10 years. The launch of the new, modern stainless steel production facility will help meet growing domestic consumption.