Biosphere is investing $20 million in tea production, and Interpipe is implementing three projects

Biosphere is investing $20 million in tea production, and Interpipe is implementing three projects

Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine visited industrial enterprises of Dnipropetrovsk region to review their operations, investment plans and the ...

Yuliia Svyrydenko has visited Biosphere and Interpipe NTRP in Dnipro, Niko Tube and Centravis in Nikopol, and ArcelorMittal Kryvyi Rih in Kryvyi Rih.

During her visit, it was reported that Biosphere has successfully benefited from the Government’s 5-7-9 loan programme and is launching a new tea production facility in January 2024. About USD 20 million has been invested in this project.

Interpipe said it was currently implementing three investment projects.

The largest of them, worth about USD 40 million, is the construction of a new pipe heat treatment facility. Two other projects are being implemented in the railway division at Interpipe’s plant in Dnipro.

Nikopol-based Centravis has planned to upgrade its pipe press line in the first half of 2024. This will help reduce metal waste in the production process. The investment in this project is about USD 3.5 million.

ArcelorMittal Kryvyi Rih announced that in 2024 it planed to increase its production capacity utilisation from 30 to 50%. The company plans to invest USD 150 million in production. The largest project is the construction of the Karta III tailings dump, which will ensure the company’s sustainable operation for decades to come.

“On the day of the visit to Nikopol and Kryvyi Rih, these cities came under fire from the occupiers. Against this backdrop, the information about the bold investment plans of the enterprises of Dnipropetrovsk region looks particularly impressive. Metallurgy has always been a fundamental sector of the Ukrainian economy. Before the invasion, the mining and metals sector contributed about 10% of GDP and generated about a third of foreign exchange earnings from all merchandise exports. The industry has always been and remains export-oriented. More than 80% of steel products were shipped abroad. The most important thing that the Government can do for the Ukrainian steel industry now is to ensure unimpeded exports by sea. We have an important achievement in this area. In September, the first ships carrying metal sailed through the temporary sea corridor. And in November, we recorded a 70% increase in exports by sea. Metal exports are starting to work. This means that steelmakers and coal miners will have jobs, and the Ukrainian budget will receive additional taxes. We are now working to fully unblock maritime logistics and launch the ship insurance mechanism that has already been developed,” said Yuliia Svyrydenko.

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