Interpipe & Danieli Sign EAF Deal Pinchuk

According to the head of Interpipe Group, Viktor Pinchuk, his company signed a deal with Italy’s Danieli for the construction of Ukraine’s largest electric arc furnace shop (EAF). The furnace, which will be located at Nyzhnodynprovsky Pipe (NITR: BUY) is scheduled to take 26 months to build at a cost of USD 600 mln. The shop’s capacities are planned at 1.3 mln of crude steel p.a., with a possibility to expand to 1.5 mln. Andriy Gostik: The EAF shop will most likely be run by a separate legal entity Dniprostal, which was created last year by Nyzhnyodniprovsky Pipe (NITR: BUY) and NIKO Tube, Interpipe’s key assets. The shop will replace outdated open hearth steel making facilities at NITR and supply steel to primarily meet the needs of NITR and NIKO Tube.