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The Ministry of Industry and Trade of the Russian Federation, Government of the Rostov Oblast, and the EPM Group has signed a special investment contract valued at 2.7 bln rubles

Saint Petersburg, June 7, 2019.  Within the framework of SPIEF, the Ministry of Industry and Trade of the Russian Federation, Government of the Rostov Oblast, and the EPM Group signed a special investment contract for the modernization of production of graphite electrodes at the site of the EPM – Novocherkassk Electrode Plant.

The document was signed by the Minister of Industry and Trade of the Russian Federation, Denis Manturov, the Governor of the Rostov Oblast, Vasiliy Golubev, and CEO EPM Group, Victor Nechuyatov.

"As part of the project, it is planned to invest more than 2.7 bln rubles into the development of the production of large cross-section graphite electrodes by the end of 2023, taxes and other payments into the treasuries at all levels will amount to around 900 mln rubles, manufactured and sold products over 5 years will amount to more than 20 bln rubles, about 70% of which will be sent to the domestic market," stated Denis Manturov.

It is planned to implement the main investment projects of the Company in 2019. In April this year, a robot-assisted nipple center was launched at the EPM – Novocherkassk Electrode Plant, which will increase the machining accuracy by 5 times, thereby bringing the level of production at the plant up to par with that of other global producers. At the end of the year, it is planned to commission a RIEDHAMMER furnace - this is a key investment project, designed to increase the quality and output of graphite electrodes with a diameter of 610 mm.

Vasiliy Golubev highlighted the specificity and significance of the agreements reached: "We signed a very important document which clearly defines the program of the further modernization of the large Don industrial plant. Is it backed not only by a new level of equipment, but also by a marked growth in production volumes."

As was noted by the CEO EPM Group, Victor Nechuyatov, it is expected that investment into the modernization program will result in meeting more than half of the demand of the Russian metallurgy industry in large cross-section graphite electrodes. "Following the implementation of the investment program, the output of large cross-section graphite electrodes will double," he pointed out.

Graphite electrodes are used in AC and DC electric arc furnaces of various capacities for steel production.

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