The chemical composition of a new vanadium-nitrogen containing steel grade (17Mn2NV) and process technology for production of At500S-class reinforcing bar, have been designed. The steel alloyed with vanadium and nitrogen possesses a uniquely high level of strength, fatigue, high ductility and notch toughness. At the same time it possesses good high temperature properties, resistance to stress-corrosion and mechanical ageing and its lower carbon level should ensure good weldability. Production and application of this reinforcing steel will enable considerable improvement in the quality, reliability and longevity of reinforced concrete structures, used in extreme Arctic and seismic regions and will ensure considerable lowering of cost.