Severstal will invest 22 billion rubles into the development of Cherepovets Iron and Steel Works and other Severstal Russian Steel assets.
According to the company statement, 55% of the amount will be invested in the maintenance projects, the major of which is the reconstruction of the coking battery No. 4. The rest will be spent on projects connected with the manufacture of high added value cost, rolled metal quality improvement, product range increase, etc. The major projects are the construction of the metal plating shop No. 3 and the assembly of the ladle furnace No. 2.
Vologda region will see investments of 20.9 billion rubles, or 96.7% of the total amount. (Ukrainian metal)