The administration of Russia's Pskov region and the scrap processing company Pskovvtormet have signed an agreement of intention for the construction of a new smelting plant in the region.
Accordingly, the new smelting plant in Pskov will be able to process up to 300,000 mt of scrap per year, and will allow the region's administration to create about 250 new jobs. The construction of the plant is scheduled to be completed in 2012. The size of the investment in the project has not been disclosed.