17th Jun 2015 07:38
LONDON (Alliance News) - Evraz PLC Wednesday said it will spend about USD215 million in development capital expenditure in 2015 and about USD335 million in maintenance capital expenditure, as it predicted strong growth in production of large diameter gas pipeline in North America this year.
The steel, mining and vanadium company is holding an investor day in London Wednesday, and said it will provide updates on key programmes and projects, as well as its near-term strategic goals.
Those goals include the capital expenditure targets for this year.
The company said production of large diameter pipes for gas pipelines in North America is expected to be 465,000 tonnes in 2015, up 28% from 364,000 tonnes in 2014.
It added that its total debt was USD6.8 million at the end of May.
Evraz shares were down 1.1% at 147.50 pence early Wednesday.
By Steve McGrath; [email protected]; @stevemcgrath1
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