Russia's Novostal invests $441 mln in hot-rolled plate plant

Russia's metallurgical holding company Novostal-M is investing 40 billion roubles ($441 million) in the construction of a hot-rolled plate plant in the city of Shakhty, Rostov region in southwestern Russia, the rating agency Rusmet reported.

The steel plant will have an annual capacity of 1 million tonnes and an area of 480,000 square metres. The project will be equipped with an automatic gas and dust purification system to ensure environmental safety. The plant will create more than 1,500 new jobs. Novostal also became the managing