Severstal, Danieli sign equipment supply contract

AK&M 03 August 2020 23:26

PAO Severstal has identified the supplier of core process equipment for the construction of a long-range wire mill at its Cherepovets Steel Mill (operating as part of the Severstal Russian Steel division), the company informed.

The equipment will be supplied by Danieli (Italy). The scope of the contract includes engineering services, the supply of equipment and the subsequent commissioning of Mill 170 equipment.

Mill 170 will enable Severstal to expand its product range. The new unit with a design capacity of 1 million tonnes per year is expected to be launched in the second half of 2022.

PAO Severstal (LSE: SVST, tax number: 3528000597) is an international mining and metallurgical company focusing on high value added products. The company has considerable experience of acquisitions and integrations of assets in North America and Europe. It also possesses mining enterprises in Russia providing the company's production assets with feed stock.