Russian steelmaker NLMK Group has announced that it generated savings of RUB 700 million ($10.33 million) in 2015 through optimization of energy procurement and of process and auxiliary equipment performance.
NLMK Group stated that, in order to reach the level of the best available technologies, in 2015 it implemented a set of investment projects and a significant number of cost-efficient optimization initiatives. The investment projects included improving reliability of energy supply to BOF shops, completion of upgrades to bell-type furnaces at Novolipetsk rolling operations, and establishing energy supply for the Stoilensky pelletizing plant currently under construction. According to the company, these initiatives to boost energy efficiency resulted in a one percent year-on-year improvement in the energy intensity of its products during 2015.