Industry Development Fund to finance project of Beloretsk metallurgical plant

Expert Council of the Industry Development Fund (FRP) has approved loans for 985.3 million rubles for the realization of four import-substituting projects, one of which is planned to be implemented by Beloretsk metallurgical plant (BMK, a part of the Mechel group).

BMK will launch production of stranded wire ropes (including polymer-coated) for lifting equipment, load-bearing elements of suspension bridges, coal and mining industry, gas ad oil industry, fishing, boating. At the moment, Russia has no technological possibility of the production of stranded wire ropes of a certain diameter, coated cables are not produced at all.