In 2018 Severstal will spend over 31 billion rubles for the development of Cherepovets Iron and Steel Works and other assets of the Russian Steel division.
More than half of investments will fall on the development projects, the major being the construction of a new blast furnace No. 3 with the capacity of 2.9 million tons of pig iron per year and the coking battery No. 11 with the technology of coal blend tamping.
All the other funds (47%) will be invested in the maintenance of the manufacturing capacities, improvement of industrial safety and environment protection.
Investments in the industry of the Vologda region will total 29 billion rubles, or 92% of the overall volume. (Ukrainian metal)
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