Severstal may suspend a number of investment projects
If the global steel market will start to fall faster than expected "Severstal", the company Alexey Mordashov may suspend some of the planned investment projects.
"If we see that the market moves towards a negative scenario of development more intensive than today, we assume that we have the ability to suspend the implementation of a number of our projects", - said General Director of "Severstal" Alexander Shevelev in interview the edition "Correspondent".
At the same time, if the company sees that the market drop is placed in its forecast, the program cost $ 2.5 billion will be implemented in full, he added.
"this implies that in the next three years we are going to an increased level of investment, in the range of 1.5–1.7 billion dollars per year. After 2023 we will be back to normal for us, the level of investment in 800-900 million dollars", - said Shevelev.
He noted that the strategic goal of "Severstal" to get away from the positioning on the market as a manufacturer of basic rent and become a supplier of complex solutions for which the modern client is ready to pay more.