Severstal says to spend 8 bln rbl to raise flat rolled metal output
MOSCOW, Apr 3 (PRIME) -- Russian steelmaker Severstal plans to invest 8 billion rubles to increase output of flat hot-rolled and cold-rolled products by 500,000 tonnes and to launch a new product, rolled metal with a width of 1,850 millimeters, the company said in a statement on Tuesday.
Severstal plans to buy and upgrade equipment, and has already signed a contract with ItalyТs Danieli & C Officine Meccaniche SpA to buy non-stop pickling unit for the companyТs Cherepovets Steel Mill, which will be launched at the end of 2020.
Under the deal, Danieli & C Officine Meccaniche SpA will also do engineering, installation supervision and commissioning works for the unit.
(57.2850 rubles Ц U.S. $1)