SynopsisSeverstal, a prominent Russian steel producer, is contemplating the construction of a state-of-the-art pelletizing complex in Cherepovets, with estimated investments reaching a substantial 70 billion rubles. The project, slated for potential realization between 2023 and 2026, remains in the development phase, with specific details yet to be disclosed. This move aligns with Severstal's commitment to enhancing existing capacities, digitalization, and sustainable practices, signifying its dedication to both modernization and environmental responsibility.ArticleIn a bid to fortify its position as a leading steel producer, Severstal is exploring a pioneering venture: the construction of a cutting-edge pelletizing complex in Cherepovets, Russia. Sergey Sharygin, the head of the company's Investment Development Department, revealed that the estimated investment required for this ambitious project is approximately 70 billion rubles. This announcement came during the International Forum on Construction and Design Development held in Yekaterinburg.The envisaged timeline for implementing this project spans from 2023 to 2026, reflecting Severstal's strategic planning for future growth and technological advancements.While the details of this endeavor remain confidential due to its developmental status, Severstal's proactive approach to investments is evident. Earlier in the year, the company unveiled plans to invest $1.1 billion in various initiatives, with a focus on sustaining existing capacities and fostering development. Of this total, $544 million is earmarked for maintaining current capacities, while $449 million is dedicated to development projects. Additionally, $135 million is allocated for critical areas such as IT, digitalization of production, environmental initiatives, improvements in industrial safety systems, and occupational health and safety.Notably, the majority of Severstal's investment program is denominated in rubles, underscoring its commitment to bolstering the Russian steel industry and contributing to the nation's economic growth.As Severstal continues to deliberate on the pelletizing complex project, it exemplifies its dedication to modernization, sustainable practices, and the pursuit of excellence in the steel manufacturing sector.