Severstal’s unit to raise investment in production by 50% in 2019

MOSCOW, Feb 8 (PRIME) -- Karelsky Oktaysh, a subsidiary of Russian steelmaker Severstal, plans to raise investment in production by 50% on the year, or by 2.8 billion rubles, to 8.4 billion rubles in 2019, the company said in a statement on Friday.

Karelsky Okatysh plans to spend the money on construction of a conveyor facility in the central open-pit mine that should make transportation of ore easier, and reconstruction of the plant’s central heating and power plant with the goal of transferring some of the plant’s unit to fuel types alternative to fuel oil in the future.

The company also plans to renew its machinery park as well.

(66.0199 rubles – U.S. $1)

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