This will be a third gas turbine at the steelworks' cogeneration facility with a total capacity of 450 MW. Once the facility is set in operation, the steelworks will be self-sufficient in electricity supply. The steelworks is undergoing a large-scale modernisation that will increase its output capacity more than two-fold. Yet the financed cogeneration power plant using waste gases of the steel production will allow cutting the inevitable increase of the greenhouse gas emission by 3.5 tonnes a year, comparable to the annual emissions of a large European industrial city. "This project will introduce best international standards of environmental management at the Alchevsk steelworks, which will have a positive impact on the environment in a large industrial region of eastern Ukraine. We hope that a successful modernisation project at Alchevsk will become a pattern other industrial producers in Eastern Europe would follow," says Tore Emanuelsson, Senior Manager Lending at NIB. NIB is a multilateral financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor's and Moody's.For further information, please contact Mr Tore Emanuelsson, Senior Manager Lending, at +358 10 618 0244, [email protected] Mr Dimitrijs Alehins, Communications Specialist, at +358 10 618 0296, [email protected]
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