Severstal to reduce its capital investments by 30%
Edited by Rhod Mackenzie / 2013-11-15 04:56:35
The Balakovo plant will become the last investment project of the company. Severstal is not going to construct any new facilities.
As reported by the General Director of the company, Aleksei Mordashov, in 2014-2017 annual capital investments won’t exceed $1 billion. At the same time, about $400 million will be invested into development – small projects at the amount of $5-10 million USD. “We invest into development very carefully and only in the spheres where we are confident about the target return on investment”, CFO of the company, Aleksei Kulichenko said.
