OAO Severstal held the official presentation of the Balakovo Long Product Mill project in the Saratov Region. The mill, which will produce long products for the construction industry, represents Severstal’s largest investment project in recent years.
The presentation ceremony was attended by Valeriy Radaev, Governor of the Saratov Region, Sergey Toropov, CEO of Severstal Russian Steel division, as well as by several customers, partners and employees of the new plan.
The Balakovo Long Product Mill’s has an annual capacity of 1Mt of profiled iron for building materials (reinforcement, angle, channel). Hot testing has been launched and the product mix is being developed. Total investment in the project stands at around EUR 0.48B. The mill will initially supply products to the Volga Federal District and to the Southern Federal District. Some products will be shipped to the markets in Central Black Earth Region and Central Region where there is high demand for steel.