The Russian steel producer Severstal will start the construction works at its new longs rolling mini-mill, Saratov region, Russia-based Severstal-Long Product Mill Balakovo, in April this year, the Saratov regional government has announced.
Accordingly, in 2010 Severstal will invest Ruble 6 billion (about $198.6 million) in the construction of the new one million mt capacity mini-mill and for the purchase of the equipment. As SteelOrbis previously reported, the total investment in the mill's construction will amount to more than $600 million.
Severstal-Long Product Mill Balakovo is planned to be commissioned in 2013.