This year Severstal intends to spend 73.4 billion rules on the development of Cherepovets Iron and Steel Works and other Russian Steel manufacturing assets.
“The investment program will cover the entire technological chain of Cherepovets Iron and Steel Works. As in 2019, some 41% of investments, or 29.8 billion rubles, will be spent on the modernization of the coke-sinter manufacture. The construction of the new blast furnace No. 3 named Cherepovchanka and the coke-oven battery No. 11 with the technology of coal charge ramming will remain the largest investment projects”, Severstal Russian Steel CEO Yevgeniy Vinogradov reported.
31% of investments, or 27 billion rubles, will be spent to develop and maintain steel and rolled metal manufacture at CherMK. (Ukrainian metal)