Severstal Invests 4 billion Rubles in the Russian Steel Division in H1 2015

Source: www.gulfoilandgas.com 8/13/2015, Location: Asia

PAO Severstal, one of the world's leading vertically integrated steel and steel-related mining companies, announces that it has invested more than 4 billion rubles in its Russian Steel division in H1 2015. The majority of the investment was focused on upgrading and retrofitting the division’s major production facilities. This included the reconstruction of production units and the implementation of environmental control measures.

Significantly, 162.2 million rubles was invested in the technical upgrade of the four-stand continuous tandem cold rolling mill 1700, which is scheduled to launch in 2016. This project, with a total cost of more than 2.5 billion rubles, will increase production of cold-rolled flat products by 200 thousand tonnes per year and increase sales to the automotive industry.

Reconstruction of the filtration plant, the main unit responsible for controlling wastewater quality, is one of the production facility maintenance initiatives also aimed at improving environmental impact. In the first half of 2015, approximately 151 million rubles was invested in this project out of total planned investment of 600 million rubles. The filtration plant is scheduled to launch this year.

In the first half of 2015 Severstal also invested in development projects. The largest of these is the construction of a third metal polymer coating complex. The complex will include a continuous hot dip galvanizing unit with 400 thousand tonne per year capacity and a metal polymer coating unit with capacity for 200 thousand tonnes per year. In H1 Severstal invested 79.7 million rubles in the project out of an estimated total cost of more than 6 billion rubles.

In Severstal Metiz, 112 million rubles was invested in a new cold rolling mill to launch production of high-precision profiles at Cherepovets.

Sergey Toropov, CEO of Severstal’s Russian Steel division, commented: “All of our major investment projects are running to schedule. In total, Severstal will invest approximately 16 billion rubles in the Russian Steel division in 2015, of which around 12 billion, or more than 70%, will be allocated to projects in the Vologda region”.


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

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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