This year Severstal will invest 56.6 billion rubles in the development of the Cherepovets Iron and Steel Works and other Severstal Russian Steel manufacturing assets.
Some 75% of the funds, or 42.7 billion rubles, will account for development projects.
The largest of them are the construction of a new blast furnace No. 3 “Cherepovchanka” and the coke-oven battery No. 11 at CherMK.
The rest (25%, or 13.9 billion rubles) will be spent on maintenance of the manufacturing capacities, and the improvement of the
Labor safety.
Vologda region will account for 97% (54.7 billion rubles) of investments. (Ukrainian metal)