MMK Group to invest over RUB 3.2 bln in Environmental Programme in 2016
OJSC Magnitogorsk Iron and Steel Works ("MMK") Group, under its approved Environmental Programme, plans to complete approximately 100 environmental initiatives aimed at reducing and mitigating the Company’s environmental impact in 2016. MMK Group’s total investments in the Environmental Programme in 2016 are estimated at around RUB 3.22 bln.
Environmental initiatives in 2016 will cover all of MMK Group’s production facilities and subsidiaries. The major investments will be directed at the Magnitogorsk mill and will focus on reducing emissions of air pollutants.
In total, MMK plan to complete 40 initiatives aimed at reducing and mitigating harmful air emissions, with estimated investments exceeding RUB 2.17 bln.
MMK will invest over RUB 218 mln in 20 initiatives to reduce water consumption and pollutant discharge, in addition to a further RUB 387 mln in industrial waste utilisation in 2016.
MMK commissioned capture system #3's absorption system #3 at sinter plant #2 a year ago under its Environmental Programme, for completion by 17 July 2016, when Russia's metalworkers celebrate their professional holiday.
Reducing any negative environmental impact is one of MMK’s strategic goals. In late 2015 ММК adopted its long-term 2025 Strategy which focuses on the environmental impact of its production processes. This document states that the Company aims to significantly reduce environmental impact on Magnitogorsk by adopting the best available technologies and implementing a raft of environmental projects.
* Average RUB/USD rate in 1H 2016 was 70.2583 rubles per US dollar.