Norilsk Nickel will not reduce the investment program in the period of weak market conditions

Moscow. November 11. MMC “Norilsk Nickel” will not reduce the investment program, despite weak market conditions, said the head of the company Vladimir Potanin at a meeting with Russian President Vladimir Putin.

According to Potanin, Norilsk Nickel will spend on the investment programme of approximately 800 billion roubles by 2020, including about 300 billion rubles for environmental projects.

“Right now completing the third year of implementation of the investment program, which we have calculated till 2020, which will happen fundamental re-equipment of enterprises,” – said Potanin. “This, of course, unprecedented in their scope project involving the use of new technologies that had never been used”, – he said.

Norilsk Nickel, according to the head of the company, will be able to overcome a difficult economic period, without reducing investment.

“This is all, of course, in simple terms, because the situation of complex projects, it is unfavorable. For the first time in the last twenty years such situation that we face,” said Potanin, noting that at current prices, about 70% of world Nickel producers are operating at a loss.

“However, we are confident that we will be able to get through this period. First, without reducing the investment program, which, you know, “seize” the future. We definitely want to ensure the normal life of the enterprise and after 2020″, – said the head of Norilsk Nickel.