Global steelmaking and mining giant Evraz Group, whose operations are mainly focused on Russia, has announced that its capital expenditures for the current year will total around $1.2 billion. In 2011, the company invested $1.281 billion, up 54 percent year on year.
Among the company's investment projects are the construction of the Yerunakovskaya-8 mine with a capacity of 2 million mt of coal per year, the development of coal deposits in Tuva, the expansion at Kachkanarskiy GOK up to 55 million mt of iron ore per year, the modernization of rail production at Novokuznetsk and Nizhniy Tagil, and the construction of two steel mills, in the Rostov district and in Kazakhstan, with an output capacity of 450,000 mt of long steel per year at each of the mills.