Yenakievo Iron and Steel Works part of Metinvest Group signed the Joint Project Implementation Agreement with ING Bank NV.
The Agreement stipulates service delivery in the field of the Kyoto Protocol mechanisms aiming at energy saving technologies implementation, reduction of environmental impact of the enterprise down to a technically feasible minimum and improvement of the equipment energy efficiency. According to preliminary estimates, the planned measures will facilitate reduction of greenhouse gases emission by around 1.5 million tonnes of CO2 equivalent by 2012.
EMZ is implementing its long-term production upgrade and reconstruction program. Rate of emissions is already under control and is steadily decreasing thanks to environmental and energy saving efforts of the enterprise: reconstruction of Blast Furnace #5 reduction of CO2 emissions by 130, 000 tonnes per annum, commissioning of Linde KCA Drezden air separation plant reduction of CO2 emissions by 38,000 tonnes per annum. Furthermore, significant reduction of emissions is anticipated after commissioning of the Blast Furnace #3 Complex, which is currently under construction 200,000 tonnes per annum, introduction of pulverized coal fuel injection equipment at Blast Furnaces #3 and #5, 200,000 tonnes per annum as well as implementation of other activities to achieve energy saving and energy efficiency.
Mr Alexander Podkorytov GD of Yenakieva Iron and Steel Works OJSC said “Greenhouse gases emission reduction is a priority of our Company aimed at both environmental protection of the city and the region, and energy cost reduction.”
Application of the Kyoto Protocol mechanisms will enable to raise additional funds for modernization of the enterprise. It is planned to raise funds from sales of Emission Reduction Units, which has become possible within the framework of the Agreement signed with ING Bank NV.
The Agreement envisages long-term cooperation within the framework of the first reporting period under the Kyoto Protocol with possible extension for the second reporting period. It stipulates service delivery in the field of development, coordination and monitoring of the Joint Implementation Project, as well as support to Emission Reduction Units creation and sales process. According to preliminary estimates, the aforementioned activities will contribute to reduction of greenhouse gases emission by around 1.5 million tonnes of CO2 equivalent by 2012.
Mr Jack Maclachlan the Director of the Steel and Rolled Products Division, Metinvest Holding, LLC said “We realize that we still have much to do in order to improve the production processes, however even in such challenging period for the industry Metinvest iron and steel enterprises are able to continue investing in environmental impact reduction projects that would use the best available technologies. We understand that this is important for our future and future of the next generations.” (SteelGuru)