ArcelorMittal Kryvyi Rih to invest $400 mln in modernization in 2017

18:37, 20.02.2017 1 min read

ArcelorMittal Kryvyi Rih plans in 2017 to use $400 million in capital and operating investments in the development of the plant.

According to a company press release, the funds will be spent on modernization of production, improving the environment, the overhauls of equipment and construction of new facilities, in particular, the second continuous casting machine.

The press service noted the main tasks of this phase of the investment program are to improve performance, replace obsolete equipment with new environmentally sound, and significantly improve the ecological environment both in Kryvy Rih and in the whole region.

According to CEO of ArcelorMittal Kryvyi Rih Paramjit Kahlon, the amount of funds invested in the development of the enterprise is another confirmation of not only the commitments undertaken when buying the mill but also the readiness to fully upgrade ArcelorMittal Kryvyi Rih by 2020.