Severstal to increase capacity of Lucchini
Russian steel producer Severstal reportedly plans to increase Italian iron and steel producer Lucchini's production capacity by 600-700'000 tons. However, the capacity expansion depends on final approval of the deal that earlier this year saw Severstal acquire a 62% stake in Lucchini. Company sources report that investments worth Rubles 24 billion ($870 million) have been earmarked for Lucchini in 2005.