The Russian steelmaker Severstal has announced that it has signed a new investment agreement with the administration of the Vsevolozhsk district of the Leningrad region for the construction of a new steel service center (SSC) at the cost of $50 million. The new center will primarily target carmakers.
The new SSC will have an annual processing capacity of more than 100,000 mt a year. The center is planned to start operations by the end of 2009 or beginning of 2010.