17:00 06.08.2020

ArcelorMittal Kryvyi Rih invests $117.2 mln in production in H1

2 min read
ArcelorMittal Kryvyi Rih invests $117.2 mln in production in H1

PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) in January-June of this year invested $117.2 million in production.

According to the company's press release, which does not provide comparative indicators for the same period of the previous year, of the $117.2 million invested in the development of production in the first half of the year, operating costs amounted to $55.6 million, and capital costs exceeded $61.6 million.

At the same time, it is noted that the plant does not abandon its plans even in the face of falling prices for rolled metal in the world markets and a sharp decline in sales amid the coronavirus pandemic. At the beginning of this year, the long-term sustainable development strategy of the enterprise was updated, and the company is ready to implement it within the next five years. The construction of new modern units and the modernization of existing ones makes it possible to phase out outdated technologies in stages.

Currently, the key investment project of the company is the construction of a modern pelletizing plant, thanks to which it will be possible to close two sinter shops. Engineering and geological surveys at the construction site have already been practically completed. An agreement has been concluded with a contractor that provides for the preparation of the territory, as well as final technical and commercial negotiations for the design and supply of the main equipment. The capacity of the new factory is up to 5 million tonnes of pellets per year. ArcelorMittal's investment in this project is about $300 million.

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