Overview
This carbon finance project was an integral part of the extensive and comprehensive modernization program carried out by AISW since 2004 with the aim of applying more efficient technologies, improving environmental performance, process efficiency, increasing capacity and upgrading the quality and range of steel produced.
This comprehensive modernization program has involved technology replacement and upgrade of all major components of the iron making and still making and finishing processes. Its initial focus was on steel production with the replacement of the old open hearth furnaces with two modern basic oxygen furnaces (converters) integrated with continuous slab casters to replace the blooming mill.
Benefits
The project has delivered the following:
- Generation and sale of greenhouse gas emission reductions (ERs) and transfer of ERs as Emission Reduction Units (ERUs) to buyers under Joint Implementation (JI) mechanism by modernization of the steelmaking capacity in OJSC “Alchevsk Iron and Steel Works” (AISW);
- Support to investment in technology modernization that improved process, energy efficiency and environmental performance through significant reductions in local air emissions, wastewater discharges and solid waste generation/disposal.