On the morning of July 13, Beijing time, two people familiar with the matter disclosed that Severstal North America, the North American branch of Severstal Steel, Russia’s largest steel maker, is gaining access from the U.S. government. 7.3 billion US dollars**.

Informed sources claimed that Severstal plans to transform the group's factory in Dearborn, Michigan. The reconstruction project will require the employment of approximately 2,500 construction workers and will also produce 260 factory jobs.

It is understood that the factory mainly manufactures steel for the automotive industry. Since the early 1920s, the factory has been producing steel for Ford Motor Company. In 2004, Severstal acquired the factory.

According to reports, the two informed sources did not disclose their names because the US Department of Energy was not expected to make any statement on this before Wednesday morning. The Department of Energy spokeswoman Carissa Marcom did not comment.