MOSCOW, June 4. /TASS/. The peak of Severstal’s investment program is expected in 2025, Chief Executive Officer Alexander Shevelev told TASS before the St. Petersburg International Economic Forum, adding that investment may reach 170 bln rubles ($1.9 bln) next year.

"We plan a serious investment program for the short-term. We expect the peak of investment in 2025 as the projects that we started this year, will reach the financing maximum next year. According to preliminary estimates, investment in 2025 may total around 170 bln rubles. We will provide more precise figures in early 2025," he said.

In coming years the company’s investment program will get closer to standard levels and remain roughly at the 2022-2023 average, Shevelev said. "We believe that it is enough for the company to develop normally. However, it cannot be ruled out that new interesting ideas and projects requiring investment will appear," he added.

The St. Petersburg International Economic Forum (SPIEF) will be held on June 5-8. This year’s theme will be "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.