Ecolant (Ecolant LLC) insured the construction of Russia's first green metallurgy complex in the Nizhny Novgorod region in SberStrakhovanie, a subsidiary of Sberbank, and Rosgosstrakh. Ecolant's property will be protected from all risks, including fires, natural disasters, illegal actions of third parties and others.
The project involves the construction of a full cycle plant using modern environmentally friendly technologies in the production of steel and the necessary infrastructure. The launch of the complex is scheduled for 2025.
It will provide green steel for the production of high value-added products for the fuel and energy complex, the transport sector and mechanical engineering. In particular, Ekolant's steel billets and slabs will be used in the production of large-diameter pipes for main pipelines, wide plates for shipbuilding, seamless pipes for oil production and railway wheels.
Modern solutions will make it possible to reduce CO2 emissions by up to 3 times in comparison with traditional BOF steel production technology. This is an important step in reducing the impact of steel production on the environment. The project will comply with the current and future requirements of Russian and EU environmental legislation aimed at reducing the carbon footprint.
“The entire Sber Group, including SberInsurance, adheres to the principles of ESG, and we are always happy when our values and those of our partners coincide. The Ecolant project is just such a case. We hope that in the future we will continue to develop partnerships with the company, in particular in the area of environmental risk insurance,” commented Mikhail Volkov, CEO of SberInsurance.
“We fully share the course taken by the state to improve the environmental situation and introduce the principles of a green economy into our lives. It is a great honor and responsibility for us to participate in the implementation of the largest project of recent years in the Russian metallurgy, the construction of the Ecolant plant. As a major corporate insurer, we guarantee our clients the fulfillment of obligations at a high level,” said Alexey Volodin, Member of the Management Board of Rosgosstrakh.
“We thank our partners for supporting the Ecolant project, one of the largest in the Russian metallurgy. It is important for us to minimize all possible risks. During the construction period, dozens of contractors, about 2,000 people, dozens of pieces of equipment will be involved at the construction site. Our team has extensive experience in organizing large-scale construction projects, so we are confident in the result,” said Andrei Kukhno, director of Ecolant LLC.
The Ecolant project in the Nizhny Novgorod region is one of the largest investment projects in the Russian metallurgy, launched in the fall of 2020. The total cost of the project is estimated at 150 billion rubles. The future plant will produce steel from iron ore and natural gas using Direct Reduced Iron (DRI).
PJSC IC Rosgosstrakh is the flagship of the domestic insurance market and is part of the Otkritie bank group. More than 1,600 representative offices of the company operate on the territory of the Russian Federation. The company employs about 50 thousand employees and insurance agents. On October 6, 2021, the Rosgosstrakh system will celebrate 100 years since its creation. www.RGS.ru
LLC IC Sberbank Insurance is a subsidiary of Sberbank specializing in property and personal insurance programs, except for life insurance. Included in the Wealth Management block of Sberbank. The amount of collected insurance premium for 2020 amounted to 21.2 billion rubles. (according to IFRS). Included in the top 10 universal insurance companies of the Russian Federation in terms of fees. The rating class according to the “Expert RA” scale is ruAAА.