Yakutia suggests creating Far East Steel Works

The president of the Russian Republic of Sakha Yakutia, Mr. Vichaslav Shtirov, has suggested uniting the republic's iron ore reserves and the iron ore deposits of the Amur region into a single lot, instead of auctioning them separately. According to Mr. Shtirov, the single lot should be then put up for tender on the proviso of the creation by 2015 of new steelworks to be called Far East Steel Works. There is a large iron ore deposit on the border between Yakutia and the Amur region on the basis of which an iron ore processing plant with approximate annual capacity of 10 million metric tons of iron ore concentrate might be created, Yakutia's press service said.