The Russian steel producer Severstal has announced its intention to invest Ruble 3.5 billion ($140 million) in its coking coal producing subsidiary Vorkutaugol in 2008.
The investments will be directed toward the technical re-equipment of three Vorkutaugol mines, namely the Severnaya, Zapolyarnaya and Vorgashorskaya mines, as well as toward equipment modernization at the company's Perchorskaya Central Coal-Preparation Plant.