Volgograd-based Severstal Steel Ropes, an affiliate of steel maker Severstal, has completed an upgrade and plans to set foot on foreign markets, CEO of parent unit Severstal-Metiz Sergei Kovryakov reported.
“We can raise the volume, but the Russian market does not grow that much. We plan to set foot on other markets, the European, Asian markets,” Kovryakov said. “We plan to expand by up to 500 tons a month but the project is aimed to a larger degree at replacement of ropes made in the old way.”
He also said that the company planned to invest about 200 million rubles in further development in 2019. (Prime/Ukrainian metal)