Severstal to reconstruct blast furnace No:3

The Russian steelmaker Severstal has announced that, as a part of its program aimed at the technical modernization of its pig iron production, the company will start the reconstruction of its blast furnace No:3 at the Cherepovetsk plant in the first quarter of 2007. The renovation of the blast furnace will cost Severstal about Ruble 5 billion ($189million). Commenting on the announcement, Severstal's technical director Alexander Stepanov said that the reconstruction of the blast furnace No:3 was a large investment project which would be realized in such a way so as not to negatively affect Severstal's blast furnace production levels. In addition, the company is to ensure sufficient supplies of pig iron for its planned annual production of 9.5 million metric tons of converter steel and 2.1 million metric tons of electrosteel. Mr. Stepanov added that the reconstruction of the blast furnace No:3 would take approximately 2.5 years and would increase its productivity to 1.7 million metric tons a year.