Severstal considers to increase investment program

Friday, 08 August 2003 15:53:36 (GMT+3)   |  
       

Severstal considers to increase investment program

Russian steel producer Severstal has made a statement that it is considering to increase its investment program by 47% to Rubles 11 billion (approx. $361 million). Before the end of this year, the company is going to install a desulfurizer machine in the converter facility and reconstruct continuous caster in order to produce semis with the specifications for pipe and automotive industries. Furthermore, Severstal will reconstruct blast furnace No: 2 while installing a sheet correcting machine in sheet facility No: 1. Severstal also aims to launch a second electric arc furnace with an annual capacity of 1.1 million tons in 2005. Severstal's annual production capacity will increase to 11 million tons from 9.7 million tons by the end of 2005, after the reconstruction of the blast furnace No: 5 in 2005.

Similar articles

Vietnam’s Hoa Phat posts 7.0 percent decrease in sales for 2023

09 Jan | Steel News

Vietnam’s Hoa Phat posts higher construction steel sales amid rising consumption

08 Dec | Steel News

Vietnam’s Hoa Phat posts higher HRC sales in October amid better demand

07 Nov | Steel News

Vietnam’s Hoa Phat achieves highest construction steel sales this year in Sept

06 Oct | Steel News

Vietnam’s Hoa Phat’s steel sales fall in Jan-Aug

12 Sep | Steel News

Vietnam’s Hoa Phat’s steel output and sales rise in July from June

09 Aug | Steel News

Vietnam’s Hoa Phat’s steel output and sales fall in H1

07 Jul | Steel News

Vietnam’s Hoa Phat’s steel sales fall in May

06 Jun | Steel News

Vietnam’s Hoa Phat Group posts lower net profit and sales revenue for Q1

28 Apr | Steel News

Vietnam’s Hoa Phat’s steel sales rise in March

06 Apr | Steel News