ArcelorMittal Ukraine to invest USD 267mln into modernization

PJSC Arcelor Mittal Kryviy Rih to invest USD 267mln into modernization by the end of the year out of more than USD 1bn  investment plan for 2017-2020. The company produced 7.5mln tons of metal during last year. Arcelor has been experiencing a sustainable growth in Ukraine for some 4-5 years. The enterprise enjoys a comparative advantage of geographical location near the Black Sea. The company has large investment plans in Ukraine relating to modernization because for many years the company did not invest, said Paramjit Kahlon the CEO of ArcelorMittal Kryviy Rih. ArcelorMittal Kryvyi Rih is one of the biggest rolled steel producers in Ukraine, specializes in long products – rebar and wire rod from ordinary and light alloyed steels, as well as sinter, concentrate, coke, pig iron, steel, section and shape rolled products. Activity of PJSC ArcelorMittal Kryvyi Rih covers production chain from iron ore mining up to finished metal products.