OREANDA-NEWS. October 24, 2012. METALLOINVEST announced that it has completed the sale of the greenhouse gas Emission Reduction Units (ERUs) received in 2008 and 2009 under the Kyoto Protocol to the United Nations Framework Convention on Climate Change.

The Company will use the funds, totalling around RUB 60million, to invest in projects related to the implementation of modern technologies at METALLOINVEST’s enterprises in order to reduce its environmental impact.

Eduard Potapov, CEO, Management Company METALLOINVEST, commented: “Environmental issues are among METALLOINVEST’s top priorities. We have been able to reduce our greenhouse gas (CO2) emissions considerably at Ural Steel. We decided that the funds we received from the ERUs sale will be used to upgrade production facilities and to adopt new resource-saving and environmentally-friendly technologies.”

The reduction of greenhouse gas emissions was achieved due to installation of new highly efficient steelmaking equipment, resulting in lower raw materials and fuel per unit consumption, which led to a substantial reduction in other harmful emissions and improved general environmental situation in the region.

Although the average environmental impact of the Company is already within compulsory limits, METALLOINVEST is currently undertaking a range of projects aimed at solving environmental issues. This includes the reconstruction of a coke battery and the increase in electric steel production levels at Ural Steel, the modernisation of a gas purification complex of four arc steel furnaces, the construction of a circulating water supply system and the installation of a sewage water cleaning system at OEMK.