News from Municipalities
PAO Severstal and RÜTGERS (Belgium) set up Severtar joint venture coal tar processing facility in Cherepovets, Vologda Region.
RÜTGERS Holding Germany GmbH and PAO Severstal, a leading steel manufacturer with headquarters in Cherepovets has established the Severtar joint venture to set up a coal tar processing facility. The total investment in the project has reached 60 million dollars.
The Severtar joint venture set up production facilities for the processing of coal tar based on the coke production plant at the Cherepovets location in order to supply premium quality chemical raw materials to the international market. In addition to a distillation plant for the raw material coal tar used to produce coal tar pitch and other chemical raw materials, facilities for processing technical oils and naphthalene are also planned. The production facilities feature state-of-the-art technology and comply with international environmental standards.
The joint venture is a key step in the further growth of both companies - the RÜTGERS Group and PAO Severstal.
Severstal brings a long-term supply contract for the raw material coal tar into the joint venture. RÜTGERS contributes technology and its global logistics network to the undertaking. The new company, Severtar, will create 94 new working places. The joint venture of the RÜTGERS Group and its Russian partner PAO Severstal can produce up to 300,000 tons of coal tar a year.