October 15, 2008

Russia’s Severstal Plans $6 Billion Investment in Asia, an Industrial Info News Alert

Researched by Industrial Info Resources (Sugar Land, Texas) -- At a time when the global steel industry is witnessing a slowdown in the face of the current economic recession worldwide, Severstal OAO (MCX:CHMF) (Cherepovets, Russia) has announced plans to invest at least $6 billion to forge its presence in the Asian market. Russia and India have traditionally enjoyed close cooperation and joint efforts in the steel sector. For instance, Romelt-SAIL India Limited (New Delhi) was set up in October 1997 as a joint venture entity of the Steel Authority of India Limited (BSE:500113) (SAIL) (New Delhi), National Mineral Development Corporation Limited (BSE:526371) (Hyderabad, Andhra Pradesh), and three Russian firms.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=139997, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to [email protected] or visit us at www.industrialinfo.com.

Related News Articles

Russia's Mechel to Spend Nearly $3 Billion in Mines and Smelters

Vedanta Defers Restructuring Plan, but Continues $9.8 Billion Expansion

Global Mine Project Development Explodes to $240 Billion, a Feature of "Navigating the Currents of Change" on Industrialinfo.com

 Contact: Joe Govreau 713-783-5147  

SOURCE: Industrial Info Resources