30.05.2001 - INTERFAX SEVERO-ZAPAD Informs:

PETROZAVODSK, May 30 INTERFAX SEVERO-ZAPAD -JSC "Karelian Granule" (The Republic of Karelia) is planning to produce 6,6 mln tons iron ore granules in 2001, which is by 200 thousand tons more than had been envisioned by the business-plan.

These issues were discussed at the meeting by Alexei Mordashov, General Director JSC "Severstal" (Cherepovets, Vologodsaya oblast), Sergey Katanandov, Head of the Government RK and Victor Maslyakov, Chairman of the board of directors of JSC "Karelian Granule."

JSC "Karelian Granule" is part of JSC "Severstal" holding, which integrates more than 100 enterprises. JSC "Severstal" is one of the twenty largest steel producing companies in the world. Every fifth ton of the Russian metal rolling is produced in Cherepovets.

The Government of the Republic of Karelia and "Severstal" are the main shareholders of JSC "Karelian Granule", owning 75% of the shares.

Oleg Mikhailov, General Director of JSC "Karelian Granule" informed the journalists that the mill has produced 2,1 mln tons iron ore granules for the first four months of 2001, which makes 32% of the annual production schedule.

JSC "Karelian Granule" was established on the base of the functioning Kostomukshsky mining mill in 1993. 20% shares are owned by the Ministry of state property of the Republic of Karelia, 21,8% - by private persons, 58,2% - by corporate bodies. The large block of shares is owned by "Severstal Holding LTD" (Cherepovets), ZSC "Severstal Invest" (Cherepovets), "Ister LTD"(Kaliningrad). Last updated: 31 May 2001