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 Italy’s Danieli & C Officine Meccaniche SpA to buy non-stop pickling unit for the company’s 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 – U.S. $1)

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