September 08, 2008

Severstal finalize site for new steel plant in Saratov region

Interfax reported that Severstal and the Saratov region have selected a site for the construction of a steel plant in the region's Balakovo district.

The regional investment policy ministry in a statement said that it is now holding working meetings with representatives of the Russian steel major concerning the implementation of this investment project.

Severstal plans to build a steel mill costing RUB 15 billion in the Saratov region by 2010 to produce up to 1 million tonnes of construction industry steel per year. The company is implementing a similar project in Dzerzhinsk, Nizhny Novgorod region.