Russian Steel said investment in industry at 279 bln rbl in 2020

MOSCOW, Apr 14 (PRIME) -- Investment in the Russian ferrous metals industry hit a record of 279 billion rubles during the crisis year of 2020, Russian Steal, an association of the country’s largest ferrous metals companies, said in a statement on Wednesday.

“In 2020, the ferrous metals industry managed to achieve an investment figure of 279 billion rubles, a 43% increase as compared with the peak figure of 2008 in spite of the crisis connected to the coronavirus infection and introduction of tough restriction measures,” the statement read.

Combined capital investment in fixed assets of ferrous metals producers has reached 2.94 trillion rubles since 2000, with investment and tax payments to all budgets soaring by almost eight times as compared with the beginning of the century. Steel output grew by 25% between the years to 74 million tonnes from 59 million tonnes, the association said.

(77.2535 rubles – U.S. $1)

End %%md/jst%%