Metalloinvest begins installation of oxygen station equipment at OEMK

Metalloivnest at the Oskol electrometallurgical plant, which is part of his company, is installing an oxygen station with a cryogenic air separation unit with a capacity of up to 20,000 m3 /h of oxygen.

A set of technological equipment and metal profiles for installation have now been delivered in full. The equipment is supplied by the German company Linde, with which Metalloinvest signed a contract for the construction of a new facility back in 2012. The new oxygen plant meets the existing and future needs of OEMK in the provision of air separation products.

It is planned that the facility will be commissioned at the end of 2014. The total volume of the company's investments in the project will amount to about 3 billion rubles. Along with Linde, the Russian design organization Mosgipromez took part in the implementation of the project. The institute blabbed out the design of the facility and supervised all stages of the design. Part of the construction work was carried out by Rudstroy, a subsidiary of Metalloinvest.

In announcing its first quarter results, Metalloinvest stated that the financial results reflect the positive impact of the measures the company is implementing in an effort to improve its operational efficiency. In addition, in Q1, the company's debt burden decreased, and refinancing was carried out efficiently, despite the turbulence in the financial and commodity markets.

Key financial indicators for the 1st quarter: Revenue $ 1805 million (-7.2% yoy); EBITDA $ 574 million (-0.9%); EBITDA margin of 31.8% versus 29.8% in Q1 2013. Net profit amounted to USD 115 million (-58.2%). Net debt $ 5.105 million (-6.2% compared to December 31, 2013). Total assets $ 10,026 million (-4.1% compared to December 31, 2013).