2012.03.19 | Russia’s Severstal unit to invest 4.7 bln rbl in devt in 2012Russian iron ore pellets producer Karelsky Okatysh – controlled by Russian steelmaker Severstal – plans to invest a total of 4.7 billion rubles into development in 2010, the company said in a statement Wednesday.
The bulk of investments are to be used to finance the acquisition of large size mining equipment, spending on the optimization of mining processes, industrial safety, and increased production efficiency, the company said.
Karelsky Okatysh accounts for 20% of pellets production in Russia.
(29.5091 rubles – U.S. $1)
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