Magnitogorsk Iron and Steel Works (MMK) and the government of the Samara region have agreed to build a production and logistics center in Togliatti. Investments in the facility will reach 1.2 billion rubles.
The agreement was signed during the St. Petersburg International Economic Forum (SPIEF). The governor of the Samara region Dmitry Azarov, Chairman of the Board of Directors of MMK Victor Rashnikov and MMK CEO Pavel Shilyaev were all present at the signing of the agreement.
“The Samara region is a long-standing and reliable partner of MMK. MMK’s modern, innovative metal products are in high demand in the local automotive industry, which is one of the foundations of Russian engineering. The new production and logistics center will consolidate MMK’s strategic partnership with automakers in the region and will allow us to reach a new level of cooperation,” Pavel Shilyaev said.
Construction of the center is planned to start at the end of this year and is due to be completed in the first quarter of 2021. It will be able to accommodate up to 150,000 tons of steel products at any given time. The center will fully meet the automotive industry’s needs for the supply of MMK’s high-quality rolled products and will consolidate the company’s leading position in the automotive industry’s metal market. (MMK/Ukrainian metal)