Severstal To Invest $1.5 bln

Severstal released its FY06 financial statement, which set out the company’s 2007 investment program, among other things. The steelmaker’s investments will total $1.5 bln this year.

Severstal expects a 4%-5% y-o-y increase in the production of metal products in 2007.

For the record, Severstal’s investment program totaled $1.244 bln last year.