MOSCOW, June 4. /TASS/. Severstal plans an increase in EBITDA in the amount of 150 bln rubles ($1.6 bln) by 2028, Chief Executive Officer Alexander Shevelev told TASS before the St. Petersburg International Economic Forum.

"As the strategy is implemented and our strategic priority targets are achieved we plan an increase in EBITDA of 150 bln rubles by the end of 2028. This is a very ambitious target. It virtually means that our EBITDA is to add around 10% each year," he said.

Moreover, in its strategy Severstal targets at least 30% EBITDA margin, chief executive 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.