Russian steelmaker Severstal has announced that it will build an iron ore pellet complex at the Cherepovets Metallurgical Plant.
The complex, with an annual capacity of 10 million mt of iron ore pellets per year and a cost of about RUB 97 billion ($1 million), will allow the company to realize its environmental goals through technological changes in the production process. The company aims to reduce carbon emissions by 10 percent in 2030 from the level of 2020.
The construction of the new complex is expected to begin in January 2024 and the complex is scheduled to be commissioned in 2026.
Severstal’s new iron ore pellet complex will reduce solid fuel consumption by 25 percent and increase the productivity of its blast furnaces by nine percent, enabling it to reduce the cost of cast iron and increase its production volumes.
The company will create more than 300 jobs at the new complex.