Interpipe commissions $700 mln electric steel furnace complex
DNIPROPETROVSK. Oct 4 (Interfax) - International vertically integrated pipe and wheel manufacturer Interpipe, which is controlled by EastOne Group, has commissioned the modern electrical steel furnace complex Interpipe Steel (Dneprostal) with a pricetag of $700 million, an Interfax correspondent at the launch ceremony reported.
The facility's annual production capacity comes to 1.32 million tonnes of steel.
"This is the first plant built from scratch in Ukraine in the last 40 years, using the latest technologies jointly with Italian company Danieli," Ukrainian President Viktor Yanukovych said at the ceremony.
Yanukovych noted the project's environmental friendliness. "The most modern, environmentally safe and energy efficient technologies have been set up, which allow for high-quality production and a very good competitive cost of production," he said, adding that the enterprise has been developed in accordance with modern environmental standards. For instance, emissions from the enterprise have been significantly reduced, which is very important for the Dnipropetrovsk region.
The founder of Interpipe, Viktor Pynchuk, also took part in the ceremony.
Interpipe, controlled by Pynchuk and members of his family, is a vertically integrated steel pipe and railway wheel company. It is among the ten largest producers of pipe products and the third largest producer of railway wheels in the world. The company's products are supplied to 80 countries through a chain of commercial offices located in Ukraine, Russia, Kazakhstan, Europe, the United States and the Middle East.
