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Russia's Severstal Says Chinese Firm to Supply Equipment for New Plant Construction
Russian steelmaker Severstal CHMF.MM has signed a contract with a Chinese firm for the supply of key equipment for the construction of its new iron ore pellet plant in the northern city of Cherepovets
Tuesday, December 12, 2023

Russian steelmaker Severstal CHMF.MM has signed a contract with a Chinese firm for the supply of key equipment for the construction of its new iron ore pellet plant in the northern city of Cherepovets.

Severstal plans to receive the first batch of supplies in the fourth quarter of 2024, the company said in a statement. It did not name the supplier.

Severstal plans to produce up to 10 million tonnes of iron ore pellets per year at the new plant. The construction of the plant will cost the company 97 billion roubles ($1 billion), the statement said.

Construction of the plant is expected to start in January 2024.

Reuters

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