NLMK brings transformer steel plant in India up to full capacity

MOSCOW. July 12 (Interfax) - NLMK Group brought the transformer steel plant in the Indian state of Maharashtra up to full output capacity in the second quarter, the company told Interfax.

"The plant in India was launched, and it was brought up to planned production capacity in the second quarter," an NLMK representative said, explaining that, "Installation and commissioning were delayed owing to the coronavirus restrictions and additional local infrastructure changes."

The plant produces premium grades of transformer steel, with previously reported capacity of 64,000 tonnes of steel per year and investments estimated at $150 million. In India, the group localizes the final stages of production by applying an electrical insulating coating and straightening annealing, as well as cutting and laser processing finished products.

NLMK began assembling the new plant's steel structures in the summer of 2021, having initially planned to complete construction in the second half of 2022. NLMK occupied 25% of the Indian transformer steel market prior to launching its own production.

NLMK Group is a vertically integrated steel company with production assets in Russia, Europe, and the United States. Fletcher Group, whose beneficiary was Vladimir Lisin as of the end of 2021, owns 79.3% of NLMK.