Severstal plans to invest in Russian facilities

The Russian steel producer Severstal has announced plans to invest about $6 billion in its Russian facilities during the 2007-2011 period.

In particular, the investment will be directed toward development of the company's longs production facilities and toward increasing production capacities of high-value added products.

The longs production development in question will include the construction of one plant in the Saratov region and another in the Nizhniy Novgorod region, each to have a capacity of one million metric tons of longs.