MOSCOW, June 4. /TASS/. Severstal plans an increase in steel production by 500,000 tons and in iron ore concentrate by around 3.5 mln tons by 2028, Chief Executive Officer Alexander Shevelev told TASS before the St. Petersburg International Economic Forum.

"We plan an increase in output volumes at Yakovlevsky GOK, at Olenegorsk GOK. In total, we expect an increase in the production of iron ore concentrate by around 3.5 mln tons by 2028. We also have debottlenecking plans in steel production where we also expect an increase in production volumes by around 500,000 tons," he said.

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.