ArcelorMittal and Indian Simplex to produce wagons in Kazakhstan 10 мая 2011, 15:16
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ArcelorMittal Temirtau and Indian company Simplex Casting Ltd are launching a $35-million project on production of wagons and cast-in railroad trucks in Kazakhstan, KazTAG reports citing the company's press-service.
Company CEO Frank Pannier said that ArcelorMittal Temirtau is not a capital partner in this project. “We work with Simplex as a strategic partner and provide our capacities and industrial platforms for casting of the trucks,” said Pannier.
“With the deficiency of railroad stock, we have to work with companies that own wagons in Russia, Ukraine and the Baltic states and use rented equipment such as platforms and open cars,” the CEO said.
As per Pannier, the deficiency of wagons will reach 24 thousand units by 2015 and more than 53 thousand units by 2020. Serial production of up to 1000 wagons and 6000 cast sets for railroad trucks under the new project is expected to start in 2013.
ArcelorMittal Temirtau is one of the largest mining companies in Kazakhstan. It is part of ArcelorMittal transnational company. ArcelorMittal Temirtau has a metallurgical complex in Temirtau, eight coal mines in Karaganda oblast and four iron mines in central Kazakhstan.