Steel Orbis reported that the project for the construction of a new electrometallurgical plant for the production of long steel products in the town of Surovikino in Russia Volgograd region was agreed at the VIII International Investment Forum Sochi 2009 held on September 17th to 20th in the southern Russian city of Sochi.

The construction of the new plant which will have an annual capacity of 120,000 tonnes of finished products per year is planned to be started in 2010 and is aimed at ensuring quick deliveries in Volgograd and adjacent regions of rebar, hardware, mesh and other types of steel products necessary for the construction sector.

Surovikino was chosen as the location of the electrometallurgical plant due to the presence of the necessary raw material and due to convenience of transportation and infrastructure.

As SteelOrbis previously reported, the project for the construction of the plant was presented at the forum by the Russian company TESO Engineering, specialized in the modernization and construction of steel producing facilities. New innovative technologies are to be applied during the implementation of the project which is to cost about RUB 1 billion.