The Russian steelmaker Severstal has announced that the company will invest $109 million in construction of a new pipe plant - Sheksna Pipe Works - in the Sheksna industrial area.
The new plant is scheduled to start operations in the second quarter of 2009 and will have a capacity for production of 250,000 metric tons of fabricated sections a year. In addition Sheksna will produce round, square and rectangular pipes with a range of diameters from 127 mm up to 426 mm. The new plant is expected to reach its designed level of production by 2010.
The steel stocks needed for production at the new plant will be supplied by Severstal Cherepovetsk.
The output from Sheksna will target the Russian construction industry.