Russia’s Severstal is rebuilding the No. 3 heating furnace, one of the heating furnaces supplying steel billets for the 2,000 mm wide strip mill at Cherepovets Steel Mill (CherMK), Severstal's core asset. 

Severstal expects that after the upgrade of No. 3 heating furnace, the annual hot rolling capacity will increase by 1 million tons to 7 million tons.

The upgrade will cost more than 6 billion rubles, and the No. 3 billet heating furnace is expected to be fully operational in the second half of 2025.