Evraz Plc EVRAZ APPROVES CONSTRUCTION OF NEW VANADIUM PLANT (6781H)

TIDMEVR

RNS Number : 6781H

Evraz Plc

05 August 2021

EVRAZ APPROVES CONSTRUCTION OF NEW VANADIUM PLANT

5 August 2021 - EVRAZ plc ("EVRAZ", the "Company" and, together with its subsidiaries, the "Group") announces today that its Board of Directors has approved the construction of a new vanadium slag processing plant at the Uzlovaya special economic zone, in Russia's Tula region.

The strategic aims of the new unit are to increase cost efficiency in fully controlled and coordinated at all stages processing chain from slag to final product.

The plant will be built using the best technologies available to reduce its environmental impact, in line with EVRAZ' environmental strategy 2030. For example, the plan is that production wastewater, storm water and sewage will be treated and reused in the unit's closed-loop water system.

Overall investment in the project is expected to reach c.US$228 million. The launch of the plant is currently scheduled for 2025.

Commenting on the news, Alexander Frolov, CEO of EVRAZ, said:

"The development of vanadium production in the Tula region will create new jobs, decrease processing costs and strengthen the existing constructive dialogue between EVRAZ and the region's government."

***

For further information:

Media Relations:

+7 495 937 6871

+44 207 290 1096

media@evraz.com

Investor Relations:

+7 495 232 1370

+44 207 290 1095

ir@evraz.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCUPUMGRUPGUQA

(END) Dow Jones Newswires

August 05, 2021 03:00 ET (07:00 GMT)

Evraz (LSE:EVR)
Historical Stock Chart
From Oct 2024 to Nov 2024