NLMK Group, Russian manufacturer of steel and HVA steel products, and South Korean POSCO Engineering and Construction signed a general agreement on strategic cooperation to jointly implement investment projects for modernising blast furnace, steelmaking and rolling operation at the Lipetsk production site.
Projects implemented as part of the agreement are aimed at boosting the efficiency of technological processes; controlling the quality of products at NLMK’s main production site; implementing best practices and advanced technologies; and mastering new types of HVA products.
The general agreement was signed by Sergei Filatov, NLMK managing director, and Deuk Hee Lee, senior vice-president of POSCO Engineering & Construction. Under the agreement, NLMK and POSCO will cooperate in the area of equipment and technology supplies, planning and implementation of investment projects, automation and project management.
NLMK Managing Director Sergei Filatov said, “NLMK Group is continuing to successfully implement its strategic programme aimed at modernisation and boosting the operational efficiency of production as part of Strategy 2017. Cooperation with a South Korean partner is the next step in strengthening NLMK’s leadership positions in the sector, and in ensuring the sustainable development of the Group, as well as the diversification of equipment and technology suppliers in the long term.”
