Russia’s leading steelmaker Severstal plans to invest USD 1.1 billion in a number of major projects in its Severstal Russian Steel and Severstal Resource divisions. In addition, the Company continues to focus on implementation in key areas, namely information technology, industrial safety and the environment. Severstal CEO Mr Alexander Shevelev said “In a volatile environment, flexibility and a quick response to changes, including in investments, are especially important. We continue to implement large-scale projects that help us maintain a leading position among our peers in terms of production costs and to enter new markets and niches. Thanks to the impact of investment projects that we have already implemented, we are able to maintain leadership in terms of reducing costs and to respond flexibly to environmental challenges. As a major business, we certainly understand the importance of supporting people in the regions where we operate, and we will continue to implement charity projects. According to our plans, our capital investments for 2023 will be comparable to last year’s investments.”In 2023, Severstal will invest USD 544 million on projects to maintain existing capacities, and USD 59 million on improving its system for industrial safety, occupational health and the environmentInvestments in IT and digital projects will amount to USD 76 million: the top projects include the development of the domestic software industry within the framework of industrial competency centres, the modernization and development of IT infrastructure, as well as projects related to the further digitalization of production.The Company plans to allocate USD 449 million for development projects: improving product quality, reducing costs and developing new types of products.Severstal plans to invest RUB 3.1 billion in charity and social programs this year, RUB 1.5 billion of which will be invested in the first stage of a project Assistance in Cherepovets urban environment improvement, the reconstruction of Sovetsky Prospekt and Serpentine Park.
Russia’s leading steelmaker Severstal plans to invest USD 1.1 billion in a number of major projects in its Severstal Russian Steel and Severstal Resource divisions. In addition, the Company continues to focus on implementation in key areas, namely information technology, industrial safety and the environment. Severstal CEO Mr Alexander Shevelev said “In a volatile environment, flexibility and a quick response to changes, including in investments, are especially important. We continue to implement large-scale projects that help us maintain a leading position among our peers in terms of production costs and to enter new markets and niches. Thanks to the impact of investment projects that we have already implemented, we are able to maintain leadership in terms of reducing costs and to respond flexibly to environmental challenges. As a major business, we certainly understand the importance of supporting people in the regions where we operate, and we will continue to implement charity projects. According to our plans, our capital investments for 2023 will be comparable to last year’s investments.”In 2023, Severstal will invest USD 544 million on projects to maintain existing capacities, and USD 59 million on improving its system for industrial safety, occupational health and the environmentInvestments in IT and digital projects will amount to USD 76 million: the top projects include the development of the domestic software industry within the framework of industrial competency centres, the modernization and development of IT infrastructure, as well as projects related to the further digitalization of production.The Company plans to allocate USD 449 million for development projects: improving product quality, reducing costs and developing new types of products.Severstal plans to invest RUB 3.1 billion in charity and social programs this year, RUB 1.5 billion of which will be invested in the first stage of a project Assistance in Cherepovets urban environment improvement, the reconstruction of Sovetsky Prospekt and Serpentine Park.
