That has been announced today by JSC Severstal General Director Mr. Kruchinin at "Development strategies of JSC Severstal" presentation that was held within the framework of conference for general directors of Severstal Group companies.
According to Mr. Kruchinin, increase in production is supported by company's investment plan. This year JSC Severstal is expected to complete a number of major investment projects. Among the projects is a new slab line in EAF shop comprising new FUCHS shaft furnace, new ladle-furnace, and revamped caster. New facilities are to provide increased electric steel production up to 2.1 mln t.
"Taking into account introduction of the new slab line in 2005, we foresee changes in structure of produced steel, i.e. significant increase in electric steel production - almost by 60% in comparison with 2004" - said Mr. Kruchinin.
Commenting on results of business in 1st quarter, 2005, General Director pointed out that the results meet production plan. There is overproduction of major products in 1st quarter, 2005. Rolled product production has increased by 5.6% compared to the relevant period of the last year.