Representatives of
Luxembourg-based Arcelor and Russian steelmaker
Severstal have inaugurated their joint galvanizing line, Severgal, located at Cherepovets, during a ceremony held on April 13, 2006, Arcelor sources report.
Severstal Group holds a 75 percent stake and Arcelor has the remaining 25 percent stake in Severgal, which produces high-end
coated steel for the Russian
automotive market. Severgal, which has been built with an investment of $210 million, will have an annual
galvanized steel
production capacity of more than 400,000 tons after ramp-up.