The Russian steelmaker Severstal has announced that by the end of 2007 the company will install new scrap processing equipment at its Cherepovets plant to ensure yearly electric steel production at the level of 2.1 million metric tons.
The new equipment cost Severstal about €2 million.
A new shear with a scrap processing capacity of 180,000 metric tons supplied by French company AKROS is currently being tested at the Cherepovets plant. According to the contract concluded with AKROS, a second shear with the same production capacity will be supplied to the mill by the end of 2007, while production at the second shear will be commenced by the end of February-beginning of March of 2008.