NLMK's carbon monoxide (CO) emissions will decrease by 3 thousand tons per year, greenhouse gases (СО2) by 650 thousand tons per year
NLMK Group, an international metallurgical company, and the Lipetsk Region Administration signed a Memorandum of Intent on a project to build a power plant at the Novolipetsk Metallurgical Plant to utilize associated gases generated in metallurgical production. The project will reduce emissions of carbon monoxide (CO) by 3 thousand tons per year, greenhouse gases (CO2) - by 650 thousand tons.
The power plant's capacity will be 300 MW. The fuel for the generation of electricity and heat will be secondary gases generated during the smelting of iron and steel.
NLMK Group's investments in the project will amount to 35 billion rubles. The administration of the Lipetsk region, for its part, will provide a property tax exemption for the project.
The Memorandum of Intent was signed by NLMK Group President Grigory Fedorishin and Acting Head of the Lipetsk Region Administration Igor Artamonov.
“The signing of the memorandum is a confirmation of NLMK Group's long-term intentions to develop production and, at the same time, improve its environmental performance through the introduction of the best available technologies. The new power plant will increase the level of provision of the Novolipetsk plant with its own electricity from 60% to 95%, while the environmental impact will decrease. For the production of energy and heat, the associated gas from steelmaking production will be used, which is unique for the Russian metallurgy, "commented NLMK Group President Grigory Fedorishin.
Information about NLMK Group
NLMK Group is a vertically integrated metallurgical company, the largest in Russia and one of the world's most efficient producers of steel products.
NLMK Group metal products are used in various industries, from construction and mechanical engineering to power equipment and offshore wind turbines.
NLMK's production assets are located in Russia, Europe and the United States. The company's steel production capacity exceeds 17 million tonnes per year.
NLMK demonstrates high cost competitiveness among global manufacturers, the company's profitability is one of the highest in the industry. The company's revenue in 2018 amounted to $ 12 billion, EBITDA - $ 3.6 billion. The Net Debt /EBITDA ratio was 0.25x. The company has investment grade credit ratings from S&P, Moody's, Fitch and RAEX (Expert RA).
NLMK's common shares, which free-float is 16%, are traded on the Moscow Stock Exchange (ticker “NLMK "), Global depository shares - on the London Stock Exchange (ticker" NLMK: LI "). The share capital of the Company is divided into 5,993,227,240 ordinary shares with a par value of 1 Russian ruble. More information about NLMK's share capital can be found here.
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