Evraz Modernised Steelmaking at NTMK (7277W)

TIDMEVR

RNS Number : 7277W

Evraz Group S.A.

24 November 2010

Evraz Completes Modernisation of Steelmaking at NTMK

24 November 2010 - Evraz Group (LSE: EVR) ("Evraz" or the "Company") announces the completion of the modernisation of its converter shop at NTMK, Evraz's steel mill in the Urals, Russia. As a result, the converter shop's annual capacity increased by 0.7 million tonnes to 4.5 million tonnes of steel.

Reconstruction of converter No 4 and caster No 3 was the last stage of a large-scale modernisation project. The total cost of the modernisation of the No 4 converter amounted to 1.6 billion roubles (approx. US$50 million). Investment into the modernisation of caster No 3 totalled 1.7 billion roubles (approx. US$55 million).

The NTMK steelmaking facilities now consist of four upgraded converters and four continuous casting machines. Implementation of gas cleaning and extraction equipment significantly decreased emissions at the converter shop. The total investment in the converter shop modernisation was 9.7 billion roubles (approx. US$310 million).

Alexander Frolov, Evraz's CEO, said, "Following its modernisation, NTMK now has advanced converter production facilities which meet current standards. This investment in the steelmaking facilities will reduce cash costs of steel production at NTMK and provides a cleaner and safer environment for the workforce."

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For further information:

Media contact: Alex Agoureev VP, Public Relations [phone] [e-mail]

Investor contact: Alexander Boreyko Director, Investor Relations [phone]

[e-mail]

Evraz Group S.A. is a large vertically-integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, Europe, USA, Canada and South Africa. The Company was ranked the 14th largest steel producer in the world based on crude steel production of 15.3 million tonnes in 2009. Evraz's internal consumption of iron ore and coking coal is covered by its mining operations. Evraz's consolidated revenues for the nine months ended 30 September 2010 were US$9,729 million and consolidated adjusted EBITDA amounted to US$1,766 million.

This information is provided by RNS

The company news service from the London Stock Exchange

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