PJSC Magnitogorsk Iron & Steel Works, or MMK, is set to invest approximately US$682 million in modernizing its coking production with the participation of Sinosteel Equipment & Engineering Co. Ltd., Interfax reported Dec. 21, citing the company.

The metal producer signed an agreement with the Chinese state-owned construction company in October for overhauling MMK's coking and byproduct production, which is part of its 2025 Strategy revealed in 2015.

The project involves building a coke oven battery complex and biochemical installation and rebuilding a plant for capturing and processing chemical products.

The deadline to finish the revamp is December 2022.

The work is part of MMK's sintering, blast furnace and coke production modernization program, which aims to increase the efficiency of its first processing stage, reduce production costs and improve environmental safety.

Introducing the new coke oven battery No. 12 will allow the company to decommission three outdated batteries, MMK said in an October press release.