The West Siberian Heat and Power Plant was built as a substation of ZSMK, part of Evraz Group, which at present consumes 42% of the heat and over 25% of the electricity produced by the plant.
The acquisition of the plant by InvestEnergoProject, which acted on behalf of Evraz, will allow it to manage steel production costs more efficiently. It will also enhance significantly the power independence of Evraz's Russian steel mills, said Evraz CEO Alexander Frolov.
The technological processes of ZSMK and the plant are closely interconnected. ZSMK supplies the plant with coking and blast furnace gas that accounts for up to 17% of its fuel balance, takes part in steam refrigeration, and provides a location for an ashes dump. The plant can meet up to 85% of ZSMK's electricity requirements and fully satisfy its demand for heat.
Evraz, a leading vertically integrated mining company, comprises three major steel mills and several mining and coal-producing assets. It produces more than 20% of the world's primary vanadium products.
The group recently acquired Portland-based company Oregon Steel Mills for $2.3 billion, one of the biggest purchases in the United States by a Russian company.
Russian billionaire Roman Abramovich, best known abroad as the owner of the Chelsea football club, holds a 41% stake in Evraz.
