Economics

ArcelorMittal Temirtau to increase investments in social stability, safety and ecology

Photo: Kazpravda.kz/Adilbek Tauekelov
Deputy Prime Minister of Kazakhstan, Roman Sklyar and General Director of ArcelorMittal CIS Vijay Goyal signed a memorandum of understanding between the Government of Kazakhstan and ArcelorMittal Temirtau JSC, Kazpravda.kz reports citing the press service of the Prime Minister of Kazakhstan.

The memorandum assumes provision of sustainable development of the metallurgical industry in Kazakhstan, as well as growth in the social, environmental, labor and economic spheres.

Under the terms of the memorandum, ArcelorMittal Temirtau JSC will significantly increase investments in its upgrades, the total volume of which under the Investment Contract will amount to at least $ 3 billion over the next 10 years, and most of this amount will be invested in the first five years of the agreement.

In accordance with the document, the activities of ArcelorMittal Temirtau JSC will be aimed at enhancing social stability, industrial safety, as well as preserving the environment and ecology. It is planned to carry out major overhauls in the coke-chemical and blast-furnace production, the converter shop and rolling shops, replacement and repair of boilers at TPPs No. 1 and No. 2, construction and launch of new coke oven batteries and other activities.

With the involvement of independent experts, ArcelorMittal Temirtau JSC will also conduct an extensive analysis of the entire production cycle for safe, environmental, social sustainability, on the basis of which the parties are to agree on programs for further development in these areas.

The conclusion of the memorandum was preceded by meetings of the two parties, at which an algorithm for interaction on topical issues was discussed, and a Roadmap for the production upgrade was signed.

In general, the signing of the memorandum will allow the parties to bring interaction onto a qualitatively new level, improve the safety of production processes at ArcelorMittal Temirtau JSC, and comply with the principles of environmental safety requirements.

18:41, 30 July 2021
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