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 Interpipe Steel: A State-of-the-art Project
The idea behind the construction of the new electric steel-smelting complex, Interpipe Steel, was to design a replacement for the outdated energy-consuming open hearth production method with a more progressive electro-smelting method of steel production.
Interpipe Steel will be the largest investment project in Eastern Europe, comprising a total of USD $ 700 million. Its construction marks not only a technologically unique initiative in both the Ukraine and the other members of the CIS, but also a vital step in the development of the domestic Ukrainian pipe industry in general.
The economic and social benefits to this project include:
· Payments to both budgetary and non-budgetary funds amounting to 150 million hryvnia (USD $19 million) per year;
· An 87 million m3 reduction in natural gas consumption in the region of Dnepropetrovsk (equivalent to this region’s weekly consumption rate, or three month’s consumption of gas at Interpipe NTRP);
· 2.5 times less emissions of harmful substances into the atmosphere;
· Over 500 new work places.
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