OREANDA-NEWS. On 12 May 2008 OMZ OJSC (Uralmash-Izhora Group) issued a report on a major project to modernize and upgrade press forging facilities at OMZ Special Steels division.

Reconstruction of OMZ Special Steels' 6,000-ton automated press forging complex was begun April 7 and is scheduled for completion in late May. In the course of the project, the pump and hydraulics system are being replaced, build-up welding and mechanical processing of worn out parts are being undertaken and new electrical equipment is being installed. The work is being carried out by KF Prokatmontazh OJSC and Renal MPP OJSC. Electrical equipment is being supplied by ABS Holdings based on a contract concluded in March 2008.

Modernization of the 6,000-ton complex is part of OMZ Special Steels’ capital equipment modernization program. The next phase provides for reconstruction of the company’s 12,000-ton complex, the biggest complex of its type in Europe. Modernization will include upgrading of hydraulic and management systems. Dnepropress OJSC is general contractor for the modernization project. The first stage of the modernization is scheduled to begin in June and to be completed in late 2008. The second stage envisages a capacity increase for the complex from 12,000 tons to 15,000 tons.

On 2008 OMZ Special Steels is to invest RUR280 million in repairs and modernization of its automated forging facilities.