Cherepovets Steel Mill, a subsidiary of Russian steelmaker Severstal, has started a project to create a logistics warehouse for rolled steel, costing a total of Ruble 165 million ($5.9 million), in order to reduce transport costs for exported products.
In accordance with the project, the company plans to construct infrastructure with special platforms coverning a total area of 9,900 square meters at the industrial port of Cherepovets Steel Mill.
The logistics warehouse will have a total capacity of 160,000 mt of steel products.The project wil be completed in the third quarter of 2012.