Russian steel company buys port to improve exports

Newswire

MOSCOW, June 16 (Reuters) - Russia's third-largest steel mill, Novolipetsk , has bought a controlling stake in a big Russian seaport for $100 million to strengthen its production-to-export network, a newspaper said on Wednesday. Vedomosti said Novolipetsk bought 69.4 percent in the Black Sea port of Tuapse from transport firm Severstaltrans, which is linked to Novolipetsk's major domestic steel rival, Severstal . The government holds 25 percent in Russia's third-biggest port after ...

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