INTERVIEW: RUSSIAN STEEL GROUP SEVERSTAL HIKES IT SPENDING AMID SLOWING DEMAND

摘要

russian steel group Severstal is hoping a sharp rise in it spending will help it boost production, while a link-up with pipe producer tenaris will give it the edge in a competitive oil country tubular goods (oCtG) market, the company’s CEo told S&p Global platts in an interview during its investor day last week. Severstal is also targeting faster deliveries despite Russia’s vast distances and hoping big domestic infrastructure projects will add a minimum of 1 million mt to steel consumption, other top executives told Platts. This year Severstal ramped up investment in digital and IT projects to Roubles 6 billion ($93 million), more than four times the level in 2018. “We see a lot of benefits here –- quality, higher productivity, longer working time of machinery -- and these gains will allow us to increase steel production without launching any new facilities,” CEO Alexander Shevelev said.