Russian Railways ready to buy green rails manufactured by EVRAZ
Oleg Belozerov, CEO and Chairman of the Management Board of Russian Railways, has signed a memorandum with Alexander Abramov, Chairman of the Board of Directors of EVRAZ.
According to the document, which the two chairmen signed while attending the 24th St. Petersburg International Economic Forum, the Company is ready to purchase green rails from EVRAZ from 2023.
Cooperation based on the memorandum is aimed at reducing greenhouse gas emissions through the production and sale of rail products made from steel with a reduced carbon footprint.
"The focus of the world’s attention is on reducing our carbon footprint and searching for environmentally neutral technologies. We and our partners follow the best practices of sustainable development to make rail transport and related industries more environmentally friendly," said Oleg Belozerov.
"EVRAZ is committed to the values and approaches of sustainable development. We pay particular attention to climate preservation and carbon footprint reduction," said Alexander Abramov, Chairman of the EVRAZ Board of Directors. "I am delighted that the long-term partnership between EVRAZ and Russian Railways enables both companies not only to unfold their joint production and technological potential, but also to participate in the international initiative to combat climate change,"
The parties agreed to manufacture green rails whose production will account for four times fewer CO2 emissions in comparison with conventional methods of steel manufacturing. These indicators are expected to be achieved through the use of low-carbon electricity in the production of rails, as well as scrap metal and other secondary raw materials.
The agreement also provides for the possibility of making changes to the production technology, as well as the testing, voluntary certification and other activities for green rails.