Page 168 - RusRPTJul24

9.2.12 Mines and Minerals - steel & iron
Severstal plans an increase in steel production by 500,000 tonnes and in iron ore concentrate by around 3.5mn tonnes 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 3.5mn tonnes by 2028. We also have debottlenecking plans in steel production where we also expect an increase in production volumes by around 500,000 tonnes," he said.
Severstal plans an increase in EBITDA in the amount of 150bn rubles ($1.6bn) 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 150bn 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 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 170bn rubles ($1.9bn) 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 170bn 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.
9.2.13 Mines and Minerals - fertilisers
The Russian Fertilizers Producers Association expects the record level of fertilizer export of 2021 to be surpassed in 2024, head of the association Andrey Guryev told reporters at the St. Petersburg International Economic Forum (SPIEF).
"Export volumes have recovered to the record level of 2021. I am confident that we will surpass this level by the end of 2024," he said.
In 2023, Russia supplied 75% of fertilizers to friendly countries, with export to India having grown 1.5-fold to 5.4 mln tons, supplies to Brazil having gained
168 RUSSIA Country Report July 2024 www.intellinews.com