BELARUS NEWS AND ANALYSIS
DATE:
22/11/2010
Italy's Danieli and BMZ ink memorandum for new sheet mill in Belarus
Byelorussian Iron and Steel Works (BMZ) and the leading Italian producer of steelmaking machinery and plants Danieli & C. Officine Meccaniche S.p.A. (Danieli) have lately signed a memorandum of intent for the construction of a new sheet rolling mill in Belarus.
Danieli is expected to be the cofounder of the new sheet rolling mill joint venture with BMZ, with its share in the capital of the joint venture to amount to 25 percent. The cost of the project and the planned amount of investments have not been revealed.
As SteelOrbis previously reported, in October 2009 Belarus opened an international tender for the construction of a new sheet rolling mill, which will have the legal status of a joint venture in terms of a joint-stock company. The mill, it is now understood, will have a capacity of 600,000 of hot rolled sheets in coils, and it will allow Belarus to create its own capacities for the production of sheets and to replace imports of the products in question.
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