NLMK begins equipment assembly at new off-gas power plant
NLMK Lipetsk has started the assembly of main process equipment at its new 300 MW power plant. The plant will enable increasing the share of captive generation from 64% to 95% in the site’s energy consumption balance, and reducing its carbon oxide (CO) emissions by 3,000 tonnes per year and its greenhouse gas (CO2) emissions by 650,000 tonnes per year.
The plant will generate energy using by-product gases from the process of making pig iron and steel. The project is based on advanced solutions for using energy by-products of steel production. For instance, a system for collecting and recovering secondary steelmaking gases, unique for the Russian steel industry, will be installed together with the power plant.
Investment in the project will total RUB 36 billion. The launch of the power plant is scheduled for late 2023.
Sergey Chebotarev, NLMK Group Vice President for Energy and the Environment, said: “Technologies used as part of the new power plant construction project are best global practices in energy efficiency and environmental footprint reduction. NLMK will continue to implement projects aimed at increasing its share of secondary resource utilization.”
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has a highly competitive competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2019, the Company generated $10.6 bn in revenue and $2.6 bn in EBITDA. Net debt/EBITDA stood at 0.7х. The Company has investment grade credit ratings from S&P, Moody’s, Fitch, and RAEX (Expert RA).
NLMK’s ordinary shares with a 20.7% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital, please follow the link.
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