In 2011-2015, Russia-based Severstal, one of the world's largest vertically integrated steel and mining companies, plans to invest $8.66 billion in the development of its various divisions.
Severstal intends to spend around $3.87 billion for the modernization of Cherepovets Steel Mill and Izhora Pipe Mill, for the building of a mini-mill in Balakovo, for the expansion of its scrap-processing facilities and for the construction of metal service centers in Russia.
Severstal plans to invest about $1.34 billion in the expansion of its US businesses at Columbus and Dearborn.
Investment expenditures in Severstal Resources are scheduled at $3.45 billion, including $1.2 billion for the development of Nordgold.