Russian steelmaker Severstal has announced that it has completed the modernization of the converter No. 2 at its Cherepovets plant within the scope of its comprehensive repair and investment program.
According to its statement, the company invested about RUB 1.4 billion ($15.53 million) to replace the older equipment at the converter in question, increasing its reliability and economic efficiency. This way, Severstal will be able to ramp up its production volumes. Also, the modernization works are in line with the company’s planned environmental protection measures.
Severstal had announced back in March this year that it was committed to putting more environmental measures into effect to achieve a noticeable reduction in carbon footprint and to achieve clean air by the year-end, as SteelOrbis reported previously.