ArcelorMittal is ready to invest $ 1.2 billion in Kryvyi Rih

During his visit to the Ukrainian enterprise of PJSC ArcelorMittal Kryvyi Rih, Chairman of the Board and Chief Executive Officer Lakshmi Mittal stated that steel giant ArcelorMittal will invest US $ 1.2 billion in its Ukrainian subsidiary. He stated that ArcelorMittal plans to continue investing in the Ukrainian subsidiary, having developed a plan until 2019.

During a one-day visit on June 16, 2015, Lakshmi Mittal, together with the management of a Ukrainian enterprise, analyzed the results of the enterprise's activities since the beginning of 2015, assessing the situation in the commodity markets and the volume of sales of metal products. Particular attention was paid to the implementation of the investment program. Lakshmi Mittal, accompanied by the General Director of ArcelorMittal Kryvyi Rih Paramzhit Kalon, visited the production sites of the enterprise, where major investment projects are being implemented.

Over the past three years, investments in ArcelorMittal Kryvyi Rih amounted to over USD 1 billion. In 2014, ArcelorMittal Kryvyi Rih produced 25.1 million tonnes of iron ore, 5.6 million tonnes of pig iron, 6.3 million tonnes of steel and 5.6 million tonnes of rolled steel. In 2015, the company planned a set of environmental protection measures, including the modernization of the existing converter shop and the commissioning of new gas purification units 1-6 converters, as well as an automated environmental control system.

Lakshmi Mittal, speaking at the enterprise, said: “I visited the sinter plant, the areas of pulverized coal injection and the reconstruction of coke oven batteries in order to assess the level of implementation of the investment program at PJSC ArcelorMittal Kryvyi Rih. Over the past 3 years, we have invested more than $ 1 billion in the production activities of the enterprise, which is the largest investment of an international company in the Ukrainian industry. We plan to continue our investments with $ 1.2 billion through 2019. The volume of these investments confirms the fulfillment of our obligations to ArcelorMittal Kryvyi Rih, to our employees and Ukraine. Our company faces many challenges, but I believe that we can overcome them, strengthening production and ensuring a stable future for ArcelorMittal in Ukraine. "