Nornickel May Increase Investment in Industrial Safety in Taimyr by $1.26Bln

Russia’s Norilsk Nickel plans to increase investments in the modernization of the energy infrastructure in Taimyr Peninsula by more than 100 billion rubles ($1.26 billion) from 2020 to 2024 to ensure its maximum safety, the company said.

“Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces its plans to increase investments in modernization of the fuel and energy complex in 2020-2024 by over 100 billion roubles (approximately USD 1.3 billion as of current exchange rate),” it said.

It is noted that the plans provide for the expansion of a large-scale investment program in energy infrastructure facilities in Taimyr, which was launched to ensure energy resources for new growth projects. An additional focus of the program will be to increase the level of industrial safety of all facilities, including those built on permafrost.