BELARUS NEWS AND ANALYSIS

DATE:

09/09/2008

Severstal eyes building $2 bln factory in Belarus

MINSK, Sept 9 (Reuters) - Russia's Severstal (CHMFq.L: Quote, Profile, Research, Stock Buzz) is interested in building a steel factory in Belarus in a project valued at more than $2 billion, the Belarussian government said on Tuesday.

Severstal, Russia's largest steel company, has been on a spending spree in the United States, where it is the fourth largest producer, and also has assets in Ukraine and Europe.

"Russia's Severstal has shown an interest in building a new steel factory in Belarus," the government statement said. It added that Minsk would announce a tender for the project soon. Russian companies are already active in Belarus, which is slowly opening up its markets to outsiders and has talked of privatising major assets.

Minsk has said it is in talks with Lukoil (LKOH.MM: Quote, Profile, Research, Stock Buzz) and Rosneft (ROSN.MM: Quote, Profile, Research, Stock Buzz) to sell them a state refinery and a petrochemicals company. (Reporting by Andrei Makhovsky; editing by Sue Thomas)

Source:

http://www.reuters.com/article/rbssEnergyNews/idUSL940360520080909

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