18 Dec 2017 16:44

Klyuchevsky Ferroalloys Plant secures $1 bln contract with Yildirim

YEKATERINBURG. Dec 18 (Interfax) - MidUral Group and Turkey's Yildirim have signed a long-term export contract worth more than $1 billion, the Sverdlovsk Region governor's information policy department reported.

"The overall value of the contract exceeds $1 billion. This means that we will attract additional investment to Sverdlovsk Region and modernize more than 1,000 manufacturing jobs here," MidUral Group CEO Sergei Gilvarg was quoted as saying in the press release.

JSC RosSpetsSplav - MidUral Group Management Company told Interfax that the seven-year contract calls for supplying three types of products from the group's Klyuchevsky Ferroalloys Plant (KZF): low-carbon ferrochrome, extra low-carbon ferrochrome and metallic chromium.

These products are used to produce steel that is used in the aerospace industry and shipbuilding.

"This is the first time that a contract has been signed with Yildirim," a company spokesman added.

MidUral Group, formally known as Rossspetssplav, is a vertically integrated chemicals and metallurgical complex, specializing in the production of alloys and ferroalloys for special metallurgical needs as well as chemicals production based on Chromium salts. Rosspetssplav - MidUral Group is the management company.

OJSC Klyuchevsky Ferroalloys specializes in the production of alloys and ferroalloys. The plant has been managed by Rosspetssplav - MidUral Group since 2006.

Yildirim Group is a private, highly diversified industrial group, consolidating plants in 11 sectors including mining, ferroalloys, fertilizer production and sales, coke and coal sales, port operations and logistics, cargo shipping and shipbuilding, electricity generation real estate and private investment. The company is the world's leading producer of chromite and second in the production of high-carbon ferrochrome. The group owns the Tikhvin Ferroalloy plant.