ORSK, Russia, May 7 /PRNewswire/ --
Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces that its subsidiary, Southern Urals Nickel Plant OAO, and Bateman Engineering have signed a contract on the construction of a new melting complex for Mechel's nickel plant.
The contract, which is signed in accordance with the investment program of Southern Urals Nickel Plant, provides fundamental re-equipment of the plant and includes the design and supply of a 12 MW DC furnace. The furnace will be erected at Southern Urals Nickel's existing facility. The total project value is US$31 million.