It is reported that Severstal invested about USD 350 million in the building of the plant in Balakovo.

The project will demand above USD 600 million.

The new Plant is a metallurgic plant of next generation oriented to the building sector. The output is assumed to exceed 1mln ton/y. It is assumed to be launched in operation in IIQ 2013.

The Company has an experience in the acquisition and integration of the assets in North America and Europe. It has mining entities in Russia as well to provide the raw for the production.

(Sourced from AK&M)