Evraz Modernised Steelmaking at NTMK (7277W)
November 24 2010 - 6:21AM
UK Regulatory
TIDMEVR
RNS Number : 7277W
Evraz Group S.A.
24 November 2010
Evraz Completes Modernisation of Steelmaking at NTMK
24 November 2010 - Evraz Group (LSE: EVR) ("Evraz" or the
"Company") announces the completion of the modernisation of its
converter shop at NTMK, Evraz's steel mill in the Urals, Russia. As
a result, the converter shop's annual capacity increased by 0.7
million tonnes to 4.5 million tonnes of steel.
Reconstruction of converter No 4 and caster No 3 was the last
stage of a large-scale modernisation project. The total cost of the
modernisation of the No 4 converter amounted to 1.6 billion roubles
(approx. US$50 million). Investment into the modernisation of
caster No 3 totalled 1.7 billion roubles (approx. US$55
million).
The NTMK steelmaking facilities now consist of four upgraded
converters and four continuous casting machines. Implementation of
gas cleaning and extraction equipment significantly decreased
emissions at the converter shop. The total investment in the
converter shop modernisation was 9.7 billion roubles (approx.
US$310 million).
Alexander Frolov, Evraz's CEO, said, "Following its
modernisation, NTMK now has advanced converter production
facilities which meet current standards. This investment in the
steelmaking facilities will reduce cash costs of steel production
at NTMK and provides a cleaner and safer environment for the
workforce."
###
For further information:
Media contact: Alex Agoureev VP, Public Relations +7 985 122
4822 media@evraz.com
Investor contact: Alexander Boreyko Director, Investor Relations
+7 495 232 1370
ir@evraz.com
Evraz Group S.A. is a large vertically-integrated steel, mining
and vanadium business with operations in the Russian Federation,
Ukraine, Europe, USA, Canada and South Africa. The Company was
ranked the 14th largest steel producer in the world based on crude
steel production of 15.3 million tonnes in 2009. Evraz's internal
consumption of iron ore and coking coal is covered by its mining
operations. Evraz's consolidated revenues for the nine months ended
30 September 2010 were US$9,729 million and consolidated adjusted
EBITDA amounted to US$1,766 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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