Russian steelmaker Severstal has announced that its Cherepovets Steel Mill, part of the Severstal Russian Steel Division, plans to increase investments in environmental activities in 2012 to RUB 1.25 billion (more than $42 million), up 57 percent compared to the previous year.
The projects include the construction of a new system for capturing fugitive emissions from the steelmaking process, which was announced in 2011. The investment with the total cost of more than RUB 3 billion ($96 million) is scheduled to be completed by the end of 2014.
According to Severstal's statement, 17 projects for the minimization of impact on the environment will be implemented at Cherepovets Steel Mill in the period up to 2015 at a cost of RUB 11 billion.