Norilsk Nickel to invest over $12 bln in development in 5 years - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Norilsk Nickel to invest over $12 bln in development in 5 years

NOVO-OGARYOVO, Moscow Region, Dec 10 (PRIME) -- Russian metals giant Norilsk Nickel plans to invest over U.S. $12 billion in production development over the next five years, CEO Vladimir Potanin said Monday at a meeting with President Vladimir Putin.

УWe are now implementing quite an unprecedented investment program: we are investing over $12 billion in development of production over the next five years. And what is important, Vladimir Vladimirovich, for many years we proceeded from a strategy of maintaining current production volumes,Ф Potanin said.

The company currently produces over 200,000 tonnes of nickel and over 350,000 tonnes of copper, he said.

Potanin also said Norilsk Nickel plans to allot around 150 billion rubles for modernization of production by 2023 to solve the environmental problem in the city Norilsk.

УWe pay a lot of attention to solving environmental problems inherited. By 2023, they will be solved as 75% of all sulfur emissions that we currently make will cease to exist. It will be fully collected, we will produce sulfuric acid from this sulfur, neutralize it on domestic technologies and store in a safe regime,Ф Potanin said.

УWe will spend around 150 billion rubles on these goals, these are very serious investments for us. We expect to receive certain support from the government in solving these problems. We are currently working with authorities Ц both with the government and regional authorities,Ф he said.

(66.9227 rubles Ц U.S. $1)

End

10.12.2018 16:38
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 71.2439 +0.7848 27 feb
USD 65.5177 +0.5964 27 feb
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1461.22 +1.04 18:50 26 feb
micex 3017.42 +0.49 18:50 26 feb
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 224.76 +0.04 18:49 26 feb
lkoh 6256.50 +1.48 18:49 26 feb
rosn 443.70 -0.03 18:49 26 feb
sber 250.80 +2.29 18:49 26 feb
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 71.2925 +0.4400 14:59 26 feb
USDTD 65.3175 +0.0825 17:44 26 feb