Prime Minister Vladimir Putin visited the Chelyabinsk Metallurgical Plant (which is owned by the Russian mining and metal production company Mechel) and took part in an inauguration ceremony for a continuous casting machine that is part of a new facility at the plant to produce high quality and stainless steel.

The continuous casting machine will increase slab production to 1.2 million tonnes per year, while the facility in which it is located with help improve the quality of smelted steel, and significantly expand the production facility's product line.

After the new machine had been fired up, Mr Putin noted, "It is especially good that this production facility has been able to exceed its pre-crisis production, which has actually increased by 10%."

Deputy Prime Minister Igor Sechin and Industry and Trade Minister Viktor Khristenko were also present for the inauguration ceremony.

Managing director of the Chelyabinsk Metallurgical Plant Sergei Malyshev said that the project had received 3.6 billion roubles in investment since its launch in 2007, and total investment in the plant's modernisation would reach 10 billion roubles next year.

The prime minister praised the level of investment, saying: "Three billion has been invested, and during the crisis the company didn't just tread water, but moved forward."

Mr Malyshev told Mr Putin that the average wage at the plant was between 24,000 and 24,500 roubles a month, while essential technical staff could earn as much as 35,000 to 40,000 roubles. The general director also reported that the plant is actively working to reduce its emissions into the atmosphere.