16:37 27.08.2020

ArcelorMittal Kryvyi Rih to invest $700 mln in company in next 3-4 years

2 min read
ArcelorMittal Kryvyi Rih to invest $700 mln in company in next 3-4 years

 PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) intends to invest $ 700 million in the company in 2021-2024.

According to a press release from the company, the company's CEO Mauro Longobardo, during a visit by the president of Ukraine to the enterprise with an American delegation led by U.S. Deputy Secretary of State Stephen Biegun, presented a complex of continuous casting machines Nos. 2 and 3 at the production site.

During the visit, the guests were able to assess the scale of construction of two new two-position ladle furnaces and continuous casting machines Nos. 2 and 3 with a total design capacity of 2.8 million tonnes per year. Now it is one of the company's key investment projects worth more than $160 million, the report says.

At the same time, it is specified that after the commissioning of continuous casting machines Nos. 2 and 3 and the completion of reconstruction of small-section mill 250-4, the company will be able to increase production of reinforcement using cast billets. This will allow the company to increase its efficiency and offer more quality products in the domestic and world markets.

Earlier, Longobardo said that in the next five years the company intends to invest about $ 1.5 billion in production, including $700 million on projects to improve the environment.

ArcelorMittal Kryvyi Rih is the largest manufacturer of rolled steel in Ukraine. It specializes in production of long goods, in particular, rebar and wire rod.

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