SCM increases investments in Ukraine by 25% to UAH 12.7 billion in H1 2023

SCM increases investments in Ukraine by 25% to UAH 12.7 billion in H1 2023

In January-June 2020, Rinat Akhmetov’s SCM Group (SCM) businesses allocated about UAH 12.7 billion for capital investment and modernization in Ukraine, which is almost 25% more than in 2022.

According to the SCM's press release, investments were used in many directions.

Thus, in order to ensure the energy independence of Ukraine, the first stage of one of the most powerful wind farms in Eastern Europe, Tylihulska, began work in May. Exploration, construction and drilling work on gas fields were carried out.

To ensure the stable passage of the winter period, electric networks damaged by shelling have been modernized and repaired, power units of thermal power plants and their elements have been overhauled. Modern cleaning equipment has been installed and capital mine workings have been equipped. In addition, DTEK is planning Ukraine's first Smart Grid pilot project in the war-affected Kyiv region.

The capital investments of Metinvest Group were focused on the restoration and development of the security of enterprises in Ukraine's key metallurgical industry. Repairs of furnaces at Zaporizhstal and Kamet Steel, restoration of equipment at Kryvy Rih mining and processing plants, and most importantly, continued development of the production infrastructure of Pokrovskvuhillia, commissioning of new mine longwalls. Thanks to this, the enterprise, which is located in Donetsk region near the front line, was able, despite the war, to return to pre-war coal production.

In general, according to the results of January-June 2023, Ukrainian, associated and joint ventures of the SCM investment group paid UAH 29.3 billion in taxes and fees to the budgets of all levels. Of this amount, UAH 24.3 billion was transferred to the state budget. Contributions to local budgets amounted to about UAH 5 billion.

Some UAH 4.3 billion was spent on social programs. The largest expenses were programs for residents of the regions of presence, measures to improve labor safety and protect the environment.

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