According to a company press release, Severstal will devote US$336 million to projects that will “improve environmental and climate protection performance.”
 
The company will invest US$1.123 billion in its Russian Steel division, with a project to redesign its crude steel capacity, a 100-MW combined heat and power plant, modernization of the hot-dip aluminizing continuous line, and preparatory works for a modernization of Blast Furnace No. 5.
 
“CAPEX program 2022 includes very important development projects that will help us to increase our steel production volumes and strengthen Severstal’s position in a global market,” said Alexey Kulichenko, chief financial officer of Severstal.
 
“As a result of continuous monitoring of new opportunities we added some new projects which will help us to increase steel production volumes and improve our environmental performance.”