OREANDA-NEWS. Mikhail Voevodin, Director General of VSMPO-AVISMA Corporation, announced the amount of investments in the modernization and expansion of VSMPO and AVISMA production capacities for 2014:

Consolidated investment budget is 9 billion 673 million rubles. More than seven and a half billion will be spent for the facilities of VSMPO. About two billion rubles is the investment program of AVISMA.

At VSMPO, the lion’s share of the financial resources will be spent to complete major investment projects, such as construction of 4000 ton press in the forging shop (Shop 22), skull furnace area and installation of the ring rolling mill.

New equipment will be purchased or the old one will be repaired for each shop of VSMPO in 2014, but the major investments are planned for forging shops 21 and 37, - said Mikhail Voevodin.

This year investments at AVISMA will be strategic in nature, i.e. these will be preparatory investments for the large construction projects of the next years. One of them is the power supply upgrade for the southern group of shops at AVISMA as a capacity compensating measures for Berezniki Thermal Power Plant 2, which will be out of service in 2017.

Among the facilities which will be implemented this year, the new line of the rotor grade sponge crushing should be noted. Its launching requires large investments, but will provide a benefit both in terms of the production output, and the quality of the basic raw material.