The Russian steelmaker Severstal has announced an investment worth Ruble 560 million ($22.3 million) for the modernization of the bent steel section workshop at its Cherepovets plant.
Under the modernization program, Severstal will install a new cut-to-length line, with an annual production capacity of 200,000 metric tons.
It is planned that the new line will cut HRC into strips of 1-4 mm thickness and 900-1,550 mm width to be used for the production of electro-welded pipes.
The Italian firm Novastelmec has been chosen as the main supplier of equipment.
The installation of the new line is scheduled for the third quarter of the current year, while the production at the new line is expected to start by the end of 2008.
In addition, Severstal said it plans to increase its bent steel section warehouse capacity.