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#VSMPO-Avisma to invest over RUB 9.6 mld in upgrading and expansion of the production capacities in 2014

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February 25 2014

Mikhail Voevodin, Chief Executive Officer of VSMPO-AVISMA Corporation, announced about the amount to be invested in upgrading and expansion of the production capacities in 2014, as the Company’s press center informed.

 

According to Mr. Voevodin, consolidated investment budget equals to RUB 9 mld 673 mln. Over RUB 7.5 mld to be implemented at VSMPO site, more than RUB 2 mld – at Avisma site.

 

VSMPO will use the most part of funds for the major investment projects completion: construction of 4 000 ton press in Forging Complex of the company (Shop 22), as well as Scull furnace area and installation of the ring-rolling mill. “There is no Shop at VSMPO, where there will be no new or upgraded equipment in 2014, but the most significant investments are planned for Forging Shops 21 and 37”, said Mr. Voevodin.  

 

AVISMA investments will be of a strategic nature this year, i.e. these will be preliminary investments for future huge construction projects, including power supply reconstruction for the northern group of AVISMA Shops, as an attempt to make up for the capacities of Central Heating and Power Plant 2 in Berezniki, which is to be closed-down in 2017. “One of the projects to be completed this year is a new line for rotor grade sponge crushing, which will require significant investments, but, in its turn, will bring a great effect on the production yield and raw materials quality “, added the Corporation CEO.

 

AEX.RU