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Evraz CEO Mr Alexander Frolov told analysts “EVRAZ capital expenditures rose by 27.6% to USD 430 million comparing to USD 337 million last year. And that's driven by higher development expenses. Out of USD 430 million, USD 258 million was spent on development projects and the rest on maintenance. We continue to implement our main investment projects.”
He said “In Russia, EVRAZ NTMK continued the design work for the upgrade of the rail and beam mill and started initial construction. In June, EVRAZ returned to the discussion about integrated flat casting and rolling facility at EVRAZ ZSMK. We are currently reviewing the options for this project, and we'll make a final decision on resuming its implementation later.”
He added “In North America, EVRAZ Pueblo's new long rail mill project continued according to schedule. The general contractor for the construction and installation work has been selected.”
He said “Looking to full year 2021, our CapEx target is in the area of USD 1 billion.”