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EVRAZ and RZD to consider manufacturing of ‘green rails’

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EVRAZ and RZD to consider manufacturing of ‘green rails’

EVRAZ (LSE: EVR) and OAO RZD agreed to join efforts in reducing GHG emissions through manufacturing and operating rails made of steel with a low carbon footprint. A memorandum to that effect has been signed by Alexander Abramov, Chairman of the Board at EVRAZ, and Oleg Belozerov, CEO of OAO RZD.

‘Green rails’ that EVRAZ is going to pioneer in Russia together with RZD will be manufactured from steel with a 75-percent lower carbon emission footprint as compared against the traditional blast furnace/converter technology.

To deliver on that target, EVRAZ ZSMK will overhaul the resource base of its steel production facilities, adjusting the technologies and processes.

The parties scheduled the first deliveries of new rails for 2023.

“EVRAZ is committed to values and approaches of sustainable development, focusing on climate stability and carbon footprint reduction. I am pleased to note that the long-standing partnership with RZD enables both our companies to develop their manufacturing and technological capabilities and contribute to the international efforts against climate change”, — said Alexander Abramov, Chairman of the Board at EVRAZ.

“Reducing carbon footprint and searching for zero environmental impact technologies are on top of the international agenda today. Together with our partners, we implement best sustainable practices, making railways and associated industries more environment-friendly”, — noted Oleg Belozerov, CEO of OAO RZD.