Severstal Targets US$81 Million in Investments in Environmental Projects at Cherepovets Mill in 2013
03/18/2013 - The Cherepovets steel mill, part of the Russian Steel division of OAO Severstal, will invest up to 2.5 billion rubles (US$81 million) in its environmental improvement program in 2013.
The Cherepovets steel mill, part of the Russian Steel division of OAO Severstal, a leading vertically integrated steel and steel-related mining company, will invest up to 2.5 billion rubles (US$81 million) in its environmental improvement program in 2013.
This investment is more than double the amount invested in 2012 and reflects Severstal’s strong commitment to improving its environmental performance. In 2012, the Cherepovets Steel Mill invested 1.16 billion rubles (US$37.8 million) in environmental improvement projects.
Alexander Grubman, CEO of the Severstal Russian Steel Division, commented, “We are marking Russia’s Year of Ecology with a significant increase in investment to improve our environmental performance at the Cherepovets steel mill. We are planning to invest up to 2 billion rubles in the implementation of projects to reduce harmful atmospheric emissions alone.”
One of Severstal’s top priorities is to reduce non-organic dust emissions that are produced in the steelmaking process. The company’s projects in this area, established in 2011, will ensure that best-practice emissions treatment will be applied at Cherepovets, ensuring that the mill reaches the statutory dust tolerances by 2016.
