MTL - Mechel PAO supplies ~22000 tons of rolled steel for Moscow Metro

Mechel PAO (NYSE:MTL) has surged +4.11% pre-market on news that it is supplying ~22,000 tons of rails and other steel rolls for construction of Moscow Metro's Bolshaya Koltsevaya Line (Large Circle Line). The 70-km long Bolshaya Koltsevaya Line is said to be the biggest project in the history of Moscow's subway construction. The line will have a total of 31 stations, 19 of which will have interchanges with other subway lines, Moscow Central Ring or suburban trains. The city is preparing to launch simultaneously ten stations of the Bolshaya Koltsevaya Line's western, south-western and southern parts. Several Mechel Group enterprises produced steel for the project, with majority of the supplies (rails, rebar, flats and beams) coming from Chelyabinsk Metallurgical Plant's mills. Over 7,000 tonnes of rails were used to make 28km of rail lines between the new stations. Mechel has supplied ~35,000 tonnes of rolled steel products and 85,000 tonnes of rails

For further details see:

Mechel PAO supplies ~22,000 tons of rolled steel for Moscow Metro