14th Jul 2016 06:49
LONDON (Alliance News) - Steel, mining and vanadium business Evraz PLC Thursday said it has launched a new project to construct a new blast furnace in Russia by investing no more than USD170.0 million in 2017 and 2018.
The company said the new blast furnace, named no.7, will have a volume of 2,200 cubic metres with production capacity of 2.5 million tonnes of pig iron per year, and Evraz said the new furnace "is an alternative" to halting the no.6 blast furnace for repair.
"It will give us an opportunity to maintain the production of pig iron at EVRAZ NTMK (Nizhny Tagil) at 5.0 million tonnes per year," said Maxim Andriasov, vice-president and head of Evraz's Urals division in Russia.
Evraz said two existing furnaces, no.5 and no.6, which are the same size as the new proposed furnace, are both "known as the most high-productive and efficient in Russia and in Europe."
Blast furnaces are used to make iron from a mixture of iron ore, coke, and limestone.
Evraz hopes the introduction of the new technologies to the new proposed furnace will help to significantly reduce the impact on the environment and will improve labor conditions in the blast furnace shop.
A maximum of USD170.0 million will be invested into the new furnace, with the bulk of that being made in 2017 to 2018, it said.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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