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03.03.2008
UralBusinessConsulting

Evraz Group to invest €500m in rail production.

This means that Novokuznetsk Iron & Steel Works and Nizhniy Tagil Iron & Steel Works will be producing 750,000 tons and 950,000 tons of rails respectively by 2011.

Nizhniy Tagil Iron & Steel Works will also be improving its railroad wheel production, on which Evraz Group is to spend €107m.

As it happens, the company does not consider one-year rail production contracts profitable because of the rising steel prices, so Evraz Group will be trying to negotiate with Russian Railways Public Company for a long-term pricing policy.