Ispat-Karmet (Kazakhstan) wants to increase issue of steel in 1999 up to 4 millions of tons

/IRBIS, Nov.01, 99/ - According to REUTERS, which cites Umashancar Djha, the director of technical administration of metallurgical combine, Ispat- Karmet plans to increase steel production to 4.0 million tons in 1999 from 2.9 million tons in 1998. Registered in Holland Ispat-Karmet Holdings B.V is affiliated division of LNM Group. Ispat-Karmet was formed on the base of the Karaganda metallurgical combine (KARMETKOMBINAT) in 1995. Ispat-Karmet workers have 10% of the enterprise's shares, other belongs to the investor. In 1995, before change of management, KARMETKOMBINAT was in a pitiable condition, not of time changed management and predicted 2.2 million tons of steel at design capacity of 6.3 million a year. In 1996 production has grown to 3.0 million, in 1997 - to 3.85 million tons of steel, has told Umashancar Djha. He has informed, that 98% of rolled metal is exported into 65 non-CIS countries, about 45,000-50,000 tons a month of hot-rolled, cold-rolled and galvanized still are exported, in particular, in USA. Staying 2 percents of production are distributed in Kazakhstan, Russia and other CIS countries. As he said, the investments in combine have made since 1995 $400 million. The long-term plan assumes additional $600 million investments, including reception of $220 million from international financial institutions for modernization of still pouring installation. The director of technical administration has noted, that in connection with disposition of the company far apart from the ports, it is compelled to spend from $45 to $50 per ton of still, or about 30% of the general charges only for transportation. Ispat-Karmet - is a metallurgical integrated works with a complete production cycle. It has a 435 megawatt power station, 1.5 billion tons of coal reserves and railways. The enterprise can make hot-rolled, cold-rolled and galvanized still, plate, chark and chemical materials from chark. Ispat-Karmet, placed on the area of 5,000 hectares is one of the large metallurgical factories of the world. It reached design capacity - 6.3 million tons of steel in 1989-90. 26,000 persons work on the Ispat-Karmet. There are, in particular, four blast furnace of productivity of 5.26 million tons of metal a year, from which works three, two steel pouring shops, five coke-oven batteries.