ArcelorMittal invests in Kryvorizhstal

ArcelorMittal is investing $ 1.5 billion to modernize the Kryvorizhstal plant. The company intends to support further reductions in CO2 emissions at the plant.

By 2020, the company intends to complete the construction of two new coke oven batteries and two continuous casting lines, a converter conversion and sinter plant No. 2, modernization of rolling mill No. 4 and reconstruction of mining equipment.

The loan from the European Bank for Reconstruction and Development will reach $ 350 million, which is the largest project of the bank this year in Ukraine. EBRD loans will be used primarily for the modernization of the sinter plant and one of the blast furnaces.

The EBRD will use funds allocated to support pro-environmental investments. The modernization consists in reducing dust emissions by 17.4 thousand tons per year. The modernized plant will be able to emit only 3 thousand tons of dust per year. Emissions of carbon dioxide and nitrogen oxides will also be reduced.

After modernization, the plant will be able to produce 7 million tons of steel and 6 million tons of rolled products per year.

General Director of PJSC ArcelorMittal Kryvyi Rih Parajit Kalon said: “ArcelorMittal is the largest foreign investor in Ukraine. Over the past 12 years, our investments have reached US $ 4.38 billion, excluding acquisition costs. At the same time, we are talking not only about this, but also about the cumulative impact on the economy. We have a huge number of partners and contractors, which means tens of thousands of jobs. The core of every developed economy is its small and medium business, which includes not only commercial companies, but also organizations for production, repair and maintenance. "

This year, the partners of the company were 1,700 Ukrainian companies, of which 200 work in the construction sector and in total more than 20,000 people were involved. ArcelorMittal reports that the level of orders for services and materials in Ukraine will increase significantly from next year.