Boston, MA 05/23/2014 (wallstreetpr) – ArcelorMittal Ostrava (NYSE:MT) is one of the largest metal manufacturers of the world. According to a recent news made public by the company, it has decided to sign a contract with Finland based Valmet in order to install a fluidized bed boiler. The boiler will cost around US$74 Million to the company.
Reason of Buying New Boiler
The company has decided to spend as much as $74 million on a new boiler. The main objective behind the purchase of a new boiler was to replace the coal-fired boilers. ArcelorMittal Ostrava (NYSE:MT) had four coal fired boilers, which needed extra human efforts as well as time. Also, the emission of CO2, nitrogen oxides, sulphur dioxide and dust used to harm the environment.
The new boiler is way more energy efficient and effective than the old coal fired boilers. MT has decided to remove any such tool or machinery from its operational procedure which affects the environment badly. The new advanced boiler is a part of the overall modernization process of Ostrava’s power plant. The company has become attentive towards various environmental issues from last few years just to improve the environmental footprint. MT wants to make sure that none of its operational activity put any negative impact on environmental. The management of the company wants to comply with European emission limits without any further delay.
Please note that MT asked for the quotations from all the major boiler suppliers. Valmet won the contract for circulating boiler and will install and make it operational within next three years. The best part about the new boiler is that it burns way lesser coal than the old coal fired boilers, and at the same time provides efficiency of more than 92% with less emission of harmful gases. ArcelorMittal Ostrava (NYSE:MT) expects the returns in the form of environmental benefits after investing a huge amount for installing a new boiler.
