The Russian metallurgical plant Severstal announced that in 2026 it will allocate 98.3 billion rubles ($ 1.27 billion) to the projects of the Cherepovets Metallurgical Plant. Of these, 68.6 billion rubles will be allocated for development projects, and 27.8 billion rubles for renovation investments.
The pellet production complex remains a core project
According to Severstal, construction of the iron ore pellet production complex will continue in 2026, which the company called the largest investment project since the construction of the Cherepovets Metallurgical Plant began. The total capital expenditures for this project amount to 116 billion rubles.
Severstal explained that the project is aimed at introducing high-quality low-carbon steel production technologies in the Vologda Region of Russia. The company stressed that the new complex will allow:
- provide Cherepovets blast furnaces with iron ore pellets of their own production
- reduce coke consumption in pig iron production
- ensure the decommissioning of sintering machines with a negative impact on the environment
The steelmaking company added that its patented technology, confirmed by a government commission, will provide a 50 percent reduction in harmful emissions. As a result of changes in pig iron production technology, greenhouse gas emissions are expected to decrease by more than 2 million tons per year, and pollutant emissions will decrease by 96,000 tons per year.
