Lukoils President Vagit Alekperov and chairman of Novolipetsk Steels board of directors Vladimir Lisin signed a three-year agreement on cooperation yesterday
One of the main priorities of the agreement is the joint development and implementation of a program for replacing lubricants and special liquids imported by NLMK with Lukoil's products that enjoy the approval of global industrial and mobile equipment producers.
According to the document, Lukoil will supply NLMK and its subsidiaries with lubricants and high-tech oil in the amount and within the timeframe required for the equipment's uninterrupted operation. Both companies are expected to benefit from the agreement.
The two companies will form a working group to determine the key activities for the program's realization.