Ukrainian mining and steel producing company Metinvest Holding (Metinvest) has announced that its subsidiary Yenakievo Iron and Steel Works (EMZ) will invest UAH 40 million (about $5 million) for the introduction of capacitor banks at the ladle furnace of its converter shop, in order to improve energy efficiency of the plant.
Accordingly, the forecasted annual saving from the introduction of the capacitor banks will comprise over UAH 36 million (about $4.5).
The introduction of the automated capacitor banks will contribute to a 10.8 percent reduction of melting times at the ladle furnace and to improving the unit's productivity by one percent (22,735 mt per year of steel) through stabilized consumption of reactive power. In its turn, the reduced melting time will reduce natural gas and oxygen consumption in the production process. The bank capacitors will improve the quality of electric power and reduce energy losses. Application of the capacitor banks will extend the service life of the equipment and increase maintenance intervals.
The project is planned to be completed by the end of 2010.