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Evraz is reviewing its investment projects

Considering the current macroeconomic situation and difficult access to foreign equipment, Evraz Group is forced to reconsider the timing of the implementation of investment projects that relate to the company’s development projects.

Evraz is reviewing its investment projects

Based on the macroeconomic situation and difficulties in accessing foreign equipment in the first half of the year, steel giant Evraz has decided to postpone a number of investment projects, including the modernization of its rail and beam rolling mill.

Due to the current geopolitical tensions, Evraz Group faced serious corporate governance and operational challenges. Additional challenges arise from the strengthening ruble, declining demand for the company's products, and increased competition in traditional markets.

The dynamics of the cost of steel production and raw materials in Russia in January-June increased by about 40% compared to a year earlier.

Evraz Group announced that it has adapted its export channels to current conditions and reoriented to Russian spare parts and equipment suppliers. The company is also looking for alternatives abroad.

One of the postponed projects is the modernization project of the rail and beam mill at EVRAZ NTMK, which was extended for a year due to limited equipment supply. Another major project is the casting and rolling complex at EVRAZ ZSMK, which is at the design stage.

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