PAO Severstal, one of the world’s leading vertically integrated steel and steel-related mining companies, announces the construction of long-range wire mill 170 in the long-rolling production segment at Cherepovets Steel Mill (part of Severstal’s Russian steel division). The total investment is expected to amount to approximately 11 billion rubles.
Alexander Shevelev, CEO of Severstal, commented:
"In the highly competitive and volatile market in which we operate, we must be agile and smart in our investment decisions. We need to think ahead and predict the future requirements of our customers; in this way, we are investing in our company’s future. The new mill will allow Severstal to considerably improve our long product and metalware supply chain, end-to-end. We will take on our subsidiary Severstal-metiz’s microstructure and strict requirements in terms of long product surface quality and will also be able to expand our product range; in particular, mill 170 will have the capacity to produce a 14-32 mm diameter circle."
For the full press release, go to severstal.com.