Norilsk Nickel (Nornickel), a Russian nickel and palladium mining and smelting company, is investing in a project to build a stainless steel manufacturing plant in Russia to seek consumers in the domestic market.

Led by Russia’s RNK Holdings, a plant for the production of high-quality hot-rolled and cold-rolled flat products of stainless steel and corrosion-resistant, heat-resistant, and refractory alloys is now being built in Volzhsky, Volgograd region.

The annual production capacity of this new plant will reach up to 500,000 tons. The opening of the cold-rolling workshop is scheduled in 2025, the hot-rolling workshop in 2026, and the electric steelmaking workshop in 2027.