"Severstal" sits on the stove.
Edited by Rhod Mackenzie / 2015-07-17 06:22:59
The company will build a new blast furnace in Cherepovets.
As "the Kommersant" informs, "Severstal" is starting a new large investment, planning to invest about $ 500 million in construction of a blast furnace at the Cherepovets Steel Mill for 3 million tons of pig iron. For the Russian steel industry each new blast furnace is a great and unique event. "Severstal" has, in fact, returned to the project of 2007, stopped because of the last crisis, when steel production in the country has fallen sharply. Now the need to change blast furnaces, which are eliminated in the 2020s, is pushing company for construction.
