Russia-based Severstal group, one of the largest global steel producers, has announced the implementation of an investment project to expand its product portfolio.
Accordingly, the company has begun construction of a long-range wire mill 170 at its longs rolling production segment at Cherepovets Steel Mill. The investment, which is expected to cost the company approximately RUB 11 billion ($164 million), will allow Severstal to considerably improve its long product and metalware supply chain, end-to-end, Alexander Shevelev, CEO of Severstal, stated. The new wire mill, designed for an annual capacity of 1 million mt of 14-32 mm diameter products, is to be launched in the second half of 2022. In addition, the plant will be equipped with a heating furnace, a hydraulic descaling unit, rolling stands, a laying head, an air cooling line, a winder line with a rotating coil and a packing line, SteelOrbis has learned.