“Norilsk Nickel” confirms capital expenditure for 2016 at 145 bln roubles

The Board of Directors of “Norilsk Nickel” has confirmed its capital expenditure for 2016 at 145 billion roubles, runs the company’s statement.

Capital expenditure for 2015 are likely to have made up 100 billion roubles, including for the Chita project at approximately 11.5 billion roubles. According to the company, the key investments projects for 2015 have been realized. Earlier, the company was about to direct 105 billion roubles for capital costs.

The budget for 2016 includes 40 billion roubles of capital expenditure into the Chita project. “The investment priorities for 2016 will correspond to the approved strategy of the company and provide for one of the leading profitability ratios in the sector in terms of commercial projects even amidst the current price environment,” is said in a statement.