Russian steelmaker Severstal has announced that it has commissioned the Balakovo long product mill project in the Saratov Region. The cutting-edge mill, which will produce long products for the construction industry, represents Severstal's largest investment project in recent years. Total investment in the project stands at around RUB 23 billion ($650.5 million).
The Balakovo long product mill has an annual capacity of 1 million mt of profiled iron for building materials. The new mill will initially supply products to the Volga Federal District and to the Southern Federal District. Some products will be shipped to the markets in Central Black Earth Region and Central Region where there is high demand for steel.