Russia’s Severstal to reduce debt burden to $1.8-2 billion by year-end

摘要

Severstal, a major Russian steelmaker, is planning to substantially reduce its debt by end-2014 to $1.8-2 billion from $3.8 billion as of the end of H1 2014. To do that, the company is planning to spend a part of proceeds from the sale of North American division, the Severstal CEO Alexei Mordashov told RIA Novosti, a Russian news outlet.