9 February 2016
Ilyich Iron and Steel Works of Mariupol of the Metinvest Group started the major overhaul of the heat recovery boiler in 3000 Mill Shop. Project investments amount to UAH 5.7 million.
Specialists of Metinvest-PromService, a maintenance division, will, within 90 days, refurbish the key assemblies and utility lines, including the automated control system of the boiler. Using waste gases of continuous furnaces, the heat recovery boiler heats the air and water steam used by the rolling mills and the heat and power plant.
The update of the equipment will allow for lower natural gas consumption and make-up water losses. The increase in the temperature of the produced steam will improve the productivity and the energy efficiency of the Heat and Power Plant #2. The major overhaul will allow to save over UAH 1.5 million per month on electricity and expensive natural gas.
The 3000 Mill shop operates four heat recovery boilers. The fourth boiler was repaired in April 2013, the second in July 2014; the first one be shutdown for the update in June this year.
Yuriy Zinchenko, general director of Ilyich Iron & Steel Works of Mariupol:
- Steel makers have no resources for large projects today. Access to external borrowing is shut off. We cannot have a full-scale modernization, when steel prices are close to the level of the cost of production, and state monopolies play dangerous games with tariffs for the industry. Therefore, we focus on low-budget quick payback repairs. Involvement of our internal contractor contributes to the savings.
- For editors:
PJSC Ilyich Iron and Steel Works of Mariupol is one of the largest integrated iron and steel producers in Ukraine. It produces pipes and rolls flat products from carbon, low-alloyed and alloyed steel grades for various applications: hot-rolled heavy plates and plates for main line pipes, ships, pressure vessels, bridges and other super-duty steel structures; hot-rolled plates, sheets and strip including pickled material; cold-rolled products including galvanized strip, sheets and coils, also for cold forming, manufacture of profiled steel sheeting and other.
METINVEST is an international vertically integrated steel and mining group of companies that manages every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. It has steel and mining production facilities in Ukraine, Europe and the US, as well as a sales network covering all key global markets. Metinvest Group is structured into Metallurgical and Mining Divisions. The Group has a strategic vision to become the leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles and providing investors with returns at above the industry benchmarks. The Group generated US$5.4 billion of revenues and a 15% EBITDA margin for the nine months of 2015.
The major shareholders of METINVEST B.V. (the holding company of Metinvest Group) are SCM (71.24%) and Smart Holding (23.76%), which partner in its management.
METINVEST HOLDING LLC is the management company of Metinvest Group.