Severstal to invest millions in Columbus plant

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News,Business

COLUMBUS, Miss. (AP) — Severstal has announced it will invest $1.3 billion in its steel and mining operations worldwide with $43 million set aside for its rolled steel mill in Columbus, Miss.

The company says in a news release that while it will spend most of its investments in 2013 on its Russian operations, $107 million will be invested in the United States.

At Columbus, the company plans for health and safety improvements, environmental projects, infrastructure and production maintenance.

Severstal spokeswoman Katya Pruett says production at Columbus increased by 26 percent from 2011 to 2012. She says the company to increase production this year by 11 percent.

Severstal Columbus is capable of melting 3.4 million net tons of steel a year.

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