InvestEnergoProject Ltd. (acting on behalf of Evraz Group) outbid its rivals in the auction aimed at selling a 93.35% share holding of West-Siberian Heat and Power Plant. The opening bid was 5.7 billion RUR, the closing bid came to 5.95 billion. The capacity of the plant is estimated at 1,307.5 gigacalories per hour in terms of heating and 600 megawatts in terms of electricity production, reports the spokesperson for Evraz Group.

The plant was originally designed for West-Siberian Metallurgical Industrial Complex which now consumes 42% of heat and more than a quarter of electricity produced by the plant. The two companies are closely interrelated technology-wise: the Complex supplies the plant with blast-furnace and coke oven gas (these constitute up to 17% of the fuel used by the plant) as well as takes part in the steam cooling process and lets the power plant use the ash disposal area for their cinder. The plant, in its turn, is capable of providing up to 85% of electricity and 100% of heat needed by the complex.

‘The acquisition of West-Siberian Heat and Power Plant in addition to the plants in Metallurgical Industrial Complex of Nizhniy Tagil and Metallurgical Industrial Complex of Novokuznetsk will allow us to manage our steel-production expenses more effectively as well to make our companies less dependent on power supply,’ says Evraz President Alexander Frolov.