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Severstal capital expenditures may reach $1.1 bln in 2023

Head of the company's communications and investor relations department Vladimir Zaluzhsky said earlier that the volume of Severstal's investment program in 2022 amounted to around $1 bln against the planned $1.6 bln

MOSCOW, February 2. /TASS/. The volume of capital expenditures of Severstal in 2023 may amount to $1.1 bln, the company said on Thursday.

In particular, $544 mln will be invested in projects to maintain existing capacities, another $449 mln is planned to be used for the company's development projects. The company will allocate $76 mln to investments in IT and digital projects and $59 mln will be spent on improving the industrial safety system and labor protection.

Head of the company's communications and investor relations department Vladimir Zaluzhsky said earlier that the volume of Severstal's investment program in 2022 amounted to around $1 bln against the planned $1.6 bln.

Severstal is a vertically integrated mining and steel company and one of the largest steel producers in Russia.

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