The Russian metallurgy sector is expecting significant investments in the near future. According to the First Deputy Prime Minister of Russia, Denis Manturov, Russian metallurgy producers are planning to invest around RUB 3.5 trillion (approximately USD 40.4 billion) in corresponding investment projects. Manturov made this statement at an event organised to mark the simultaneous launch of metallurgical plants in different regions of Russia.
The projects are aimed at increasing production capacity, modernising fixed assets, developing new processing equipment, increasing the level of automation and reducing man-made environmental pollution.
In the context of securing raw material sovereignty in ferrous metallurgy, particular attention is being paid to the development of manganese and chrome ore deposits. In non-ferrous metallurgy, the focus is on the extraction of tin, in the aluminium industry on bauxite and nepheline and in titanium production on ilmenite. It is also stated that rare metals and rare earth metals are to be predominantly included in the economy.
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