Russian steel giant SeverStal while releasing results for January to September has given the following update on CAPEX

It said “The Group cash capital expenditure in Q3 2011 was USD 600 million, up 34.5% from the previous quarter. We are therefore on track to spend around USD 2 billion on our CAPEX projects.”

It said “We successfully launched the new cold rolling complex in Dearborn in Q3.”

It added “In Q4, we are planning to commission a new color coated line in Cherepovets, as well as a new hot dip galvanizing line in Dearborn and downstream rolling facilities as part of Columbus Phase II expansion.”