Severstal to Invest Over 2.5 billion Rubles into Developing Flat Steel Production in 2015

Source: www.gulfoilandgas.com 6/2/2015, Location: Asia

PAO Severstal, one of the world's leading vertically integrated steel and steel-related mining companies, will invest over 2.5 billion rubles in developing flat production at the Cherepovets Steel Mill.

The majority of the investment, around 1.7 billion rubles, will be spent on revamping the four-stand continuous tandem cold rolling mill 1700. The Mill’s main equipment provider, SMS Siemag (Germany), will deliver basic technical equipment to the Cherepovets Steel Mill this year. Completion of the construction and assembly is planned before the temporary shutdown. This project, totaling just over 2.5 billion rubles , will increase production of cold-rolled sheet by 200 thousand tonnes per year and increase supplies of steel sheets to automakers. The new four-stand continuous tandem cold rolling mill is scheduled to launch in 2016.

This year Severstal will also complete design work for a third metal polymer coating complex and prepare the site for its construction. The complex will include a continuous hot dip galvanizing unit with capacity for 400 thousand tonnes a year and a metal polymer coating unit with capacity for 200 thousand tonnes a year. In 2015, planned investment in the project is 300 million rubles, while total investment for the project amounts to more than 6 billion rubles.

In 2015 Severstal will allocate investment of over 30 million rubles to upgrade the #1 edger of the hot rolling mill 2000’s main drive and HAGC (hydraulic automatic gauge control). This investment will cover design, initial work on installing the pumping stations and work on the milling frame in the Autumn to install hydraulic cylinders. The total cost of the project will be over 250 million rubles.

Sergey Toropov, CEO of Severstal’s Russian Steel division, commented: “By investing in developing our flat steel production we aim to increase output of high value-added products. These investment projects will enable Severstal to increase its domestic market share in flat steel, while we also increase our focus on import substitution”.


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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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