Metalloinvest | 02 January 2016 г. | 16:38

Metalloinvest and Aktobe Rail and Section Works signed long-term contract

Metalloinvest and Aktobe Rail and Section Works signed long-term contract
Metalloinvest and Aktobe Rail and Section Works in Kazakhstan today announced the signing of a long-term supply contract for rails and structural steel for a three-year period. Under the terms of the agreement, Metalloinvest will deliver approximately 600,000 tons of steel products.

In accordance with the contract, the pricing will be based on current market indicators, taking into account global price trends.

The rails and structural steel will be supplied by OEMK (part of Metalloinvest) from February 2016 onwards.

Andrey Varichev, CEO of Metalloinvest, commented: “Metalloinvest’s resource reserves and modern technologies mean that the Company is able to increase supplies of high quality steel products. Long-term contracts allow us and our partners to improve our production and investment planning, enabling us to increase operational and financial efficiency.”

The new agreement continues Metalloinvest’s practice of signing long-term contracts, which are a key factor in ensuring stable demand for the Company’s products.

Source: Metal Supply and Sale Magazine
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