Russian steelmaker Severstal has opened two steel plants in a venture with Spain’s Gestamp and its industrial division, Gonvarri, in the Grabtsevo technology park located in Russia’s Kaluga region – home to many western automakers’ local assembly plants.
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The cost of the two projects totaled EUR130m, Prime-Tass reported.
Severstal set up the Severstal-Gonvarri metal service centre to meet demand for rolled stock from the automobile, electro technical, and construction industries. The production capacity of the unit is 170,000 tonnes of rolled stock per year, including 70,000 tonnes for automakers. Investment in this project was EUR40m.
Severstal also launched a new stamping plant together with Gestamp, the Russian venture is called Gestamp-Severstal. The plant produces parts for Volkswagen which has its assembly plant – recently switched from SKD to CKD kit assembly – in the technology park.
Annual production will be 13m stampings for customers including VW, Peugeot, Citroen and Renault. Investment in the project totaled EUR89m including EUR39.5m for equipment.
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By GlobalDataSeverstal’s shares in the two projects: 50% in Severstal-Gonvarri and 25% in Gestamp-Severstal.
Gestamp Automocion is an international group that develops and manufactures metal components and structural systems for the automotive industry.
Severstal is an international vertically integrated mining and metallurgy company with steel assets in Russia, North America, and Europe.
