OREANDA-NEWS. The Zhlobin-based Belarusian Metallurgical Plant (BMZ) invested EUR 61 million in production upgrade in January-March 2014, a company official told.

The total value of fixed capital investments in Q1 2014 stood at EUR 68 million.

BMZ accomplished a series of significant projects in Q1 2014: the company upgraded and put into operation its arc-type steel melting furnace, dust and gas catcher and the calcining plant.

BMZ steel output amounted to 2.242 million tonnes in January-December 2013, down 16.7% on the year; rolled stock - 2.202 million tonnes (down 0.9%), steel pipes - 129,078 tonnes (up 3.6%).

State-owned company Belarusian Metallurgical Plant was launched in 1984. BMZ exports about 85% of its output. In Jan-Sep 2013 BMZ products were exported to the EU, Russia, the Middle East, Ukraine, the United States, Africa, South Africa. The EU, the Middle East and Russia account for 86.6% of the BMZ's total exports.