Severstal to increase domestic sales

Russian steelmaker Severstal plans to invest more than $3 billion by 2012 in an effort to increase supply of rolled products to the domestic market. Severstal aims to supply at least 65 percent of its rolled product output to the Russian market by 2012 compared with the current 55 percent. Severstal's sales projects division head Alexei Venediktov said “The increase is committed to the growth of Russian companies and the entry of more foreign companies to the Russian market.”