A steel plant utilizing innovative technology is being erected in the Kovrov rayon of the Vladimir region, which is part of the Central Federal District. The production facility will produce rolled metal. The German-made equipment to be used at the factory will be one-of-a-kind in Russia. The plant will have enhanced capabilities of processing scrap metal.

Production targets for the new factory have already been set. The plant is expected to produce 1.2 million metric tons of rolled products per year. The price tag for the new facility is around USD 800 million.