Severstal expands capacity of steel production

Severstal expands capacity of steel production

Russian steel producer Severstal has made a statement that it is considering to improve electrical sections and wire rod production capacity by 30% to 1.2 million tons in 2004 when compared to 2002. The company has to renovate its electrical section's mill in order to achieve this target. The expansion plan is mainly for shaft furnace and also for ladle furnace, continuous billet caster and vacuum degasser. Company authorities said that the expansion plan's main purpose is to bring the mill to its design capacity. The expansion plan is estimated to cost around $1 million in total. Severstal will have to stop its shaft furnace for almost three weeks. However, the company anticipates to produce 829'000 tons of steel for this month.