This was reported about by Ivan Nefedov, general director of Severgal. “These finances have allowed to build foundations, including those of the hot dip galvanizing line itself. In December, the mounting of metal constructions will begin and is scheduled to end in July 2003,” said Ivan Nefedov.

In addition to making a report on the implementation of the project, the Severgal’s Board of Directors has endorsed a number of large contracts for shipments of equipment with various Russian and foreign companies. They include a contract with KONEKRANES (Finland) for shipment of crane equipment, Novokrematorsk Machine Building Plant and SSM-Tyazhmash for shipment of some equipment units.

The Board of Directors discussed holding the Severgal’s shareholders’ meeting to endorse these contracts and has set the date for it on February 18, 2003.

20 January 2003