OREANDA-NEWS. On November 20, 2007 Ural Steel managed by Metalloinvest has successfully passed an international audit of its smelting shop modernization program, reported the press-centre of Metalloinvest.

The project implemented in the framework of the Kyoto Protocol and aimed at reduction in greenhouse gases has been developed in cooperation with Camco International, a world a leading climate change group implementing projects under the Kyoto Protocol.

The project to upgrade production facilities at Ural Steel taking into consideration the carbon credits mechanisms is the first in the Russian steel industry, and it was acknowledged by an independent international auditors DNV.

The project provides for significant reduction of greenhouse gases emissions from 2,8 tones down to 2,62 tones of CO2 per one tone of rolled stock. The total emission is to go down 3,2 million tones in 2008 – 2012.

“Ecology has always been a priority in our business development projects. The Kyoto Protocol mechanisms will be introduced at Ural Steel, which is a unique experience in the Russian steel industry, when cutting edge technologies in control and reduction of emissions are implemented while facilities modernization“, General Director of Metalloinvest Management Company Maxim Gubiev commented.

The project is to increase the investment into environmental protection at Ural Steel by EUR25-30 million in the short-term perspective.

Modernization of Ural Steel in compliance with the Kyoto Protocol specifications is an outstanding project in Russia and abroad. Experts of Camco International have developed a brand new methodology to measure greenhouse gas emissions, which has already been acknowledged by international auditors. The methodology defines amounts of greenhouse gases at each stage of technological process at Ural Steel.

Substantial reduction of emissions is supposed to come out as a result of a cut-down in the consumption of raw materials and energy resources, which will lead to better ecology in the region.