Severstal decreases capital costs

This year, the holding company’s total investment program will make up $976 million that is less than the program of the previous year ($1.3 billion).

$487 million will be invested into division Severstal Russian steel. The company’s main capital costs for development - $150 million – will be used to complete construction of bar section plants in Balakovo, to reconstruct a cold rolling mill at the Cherepovets metallurgic plant and to complete construction of a service facility in St. Petersburg. Earlier representatives of the company stated that the bar section plant in the Saratov region will become the last investment program of the company, which was connected with new construction.