Norilsk Nickel’s investment to rise by 50% to $4 bln in 2022

MOSCOW, Dec 13 (PRIME) -- The board of directors of Russian metals giant Norilsk Nickel has approved the 2022 budget, under which the company will boost investment by 50% to U.S. $4 billion for active development of production, expansion and upgrade of the processing capacities and supporting infrastructure, and environmental projects, it said on Monday.

Spending on the environmental program will exceed $400 million, Norilsk Nickel said in a statement.

The company also plans to hire personnel and raise wages above inflation.

Senior Vice President Sergei Malyshev said as quoted by the company that the budget takes into account the new internal and external challenges, and that it focuses on achievement of ambitious challenges and goals.

The strategy should improve the ESG metrics, while the metals giant plans to consider raising green financing in 2022, he said.

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