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SteelAsia forges deals with Evraz for billet purchase—The 18th China(Guangzhou)Int’l Heat Treatment, Industrial Furnace Exhibition
5/31/2017 heat treatment expo-furnace expo |
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BWorld Online reported that STEELASIA Manufacturing Corp has forged supply and technology cooperation deals with two of Russia’s largest steel makers that will enable the firm to take part in the government’s ambitious infrastructure program. The agreements were formalized during President Mr Rodrigo R Duterte’s visit to Russia this week. The agreement covers a USD 250 million, long-term supply agreement with Evraz have for a guaranteed monthly supply of 50,000 tonnes of semi-finished steel for its rolling mills in Davao City and Meycauayan, Bulacan.
SteelAsia also sealed a cooperation arrangement with Kurganstalmost JSC for engineering, training and technological transfer services.
SteelAsia Chairman and CEO Mr Benjamin O Yao was quoted in a statement as saying that “We have found that Russian companies are very reliable business partners.” He said that the long-term billet supply contract assures the company of a stable supply of raw material, insulating the country from a rebar shortage, while the technology and skills transfer are in preparation for SteelAsia’s diversification into steel structures.
Mr Yap said that “Our expansion plans are all geared towards supporting the country’s focus on massive infrastructure build up.”
Since 1998, SteelAsia has procured about 3.24 million tonnes of billets worth USD 1.23 billion from Russia. In the first quarter of 2017, the company has purchased 240,000 tonnes of billets worth USD 93 million.
SteelAsia works with several Russian steel companies, including NLMK and Evraz, OEMK/Ural Steel/Metalloinvest, JSC Amurmetal, Amurstaal, KMK, and Mechel.
—The
18th China(Guangzhou)Int’l Heat Treatment, Industrial Furnace Exhibition
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