Severstal is to invest 30 billion rubles in its mine and mettalurgical facilities

Severstal Russian Steel
Planned investment across the Severstal Russian Steel division in 2015 is approximately 16 billion rubles. 8 billion rubles of this will be invested in development projects including the construction of a new coating line and the revamping of the four-stand continuous tandem cold rolling mill 1700, both at the Cherepovets Steel Mill.

8 billion rubles will be invested in a combination of maintenance and environmental improvement projects.

Severstal Resources
Planned investment across the Severstal Resources division in 2015 is approximately 13 billion rubles. 7 billion rubles of this will be invested in development projects including the completion of the construction of an incline shaft at Zapolyarnaya and, at Karelsky Okatysh, the construction of a new water rotation unit and improvements to the stripping works.

In 2015, 6 billion rubles will be invested in the maintenance of Severstal’s coal and iron or operations as well as health and safety improvement projects.

«Severstal maintains a prudent and balanced approach to capital expenditure that is flexible to market conditions. The 2015 investment program will enable Severstal to continue to deliver against its strategic objectives by further enhancing efficiency and continuing to generate healthy free cash flow. At the same time, we remain vigorously focused on developing our market-leading product and service standards,» Alexey Kulichenko, CFO of Severstal, commented.