By 2020 ArcelorMittal will invest $ 1.5 billion in the former Kryvorizhstal

The Ukrainian subdivision of the largest metallurgical company in the world PJSC "ArcelorMittal Kryvyi Rih" (Dnipropetrovsk region) intends to invest 1.5 billion US dollars in the renewal of production by 2020. To implement investment programs, it is planned to expand the base of suppliers and contractors in Ukraine, according to a press release from the company on Monday.

“We intend to invest over a billion dollars in new projects over the next three years,” Girish Sardana, deputy general director for procurement at the iron and steel works, told reporters during a conference with suppliers on Monday.

According to the announced plans, ArcelorMittal Kryvyi Rih, in particular, intends to complete the construction of a complex of two new coke oven batteries No. 5, 6. As G. Sardana noted, battery No. 6 has been built and put into operation, battery No. 5 has been put into operation and in a few months will also be put into operation.

In addition, by 2020 it is planned to complete the construction of two continuous casting plants, reconstruct the converter and sinter shop, modernize the small section mill, and update the equipment of the mining complex.

ArcelorMittal, owned by the family of the British billionaire of Indian origin Lakshmi N. Mittalu, owns the largest mining and metallurgical plant ArcelorMittal Kryvyi Rih and a number of small enterprises in Ukraine, in particular, PJSC ArcelorMittal Berislav.

Mittal Steel Corporation at an open tender on October 24, 2005 acquired 93.02 percent of shares of the largest metallurgical enterprise of Ukraine OJSC Kryvyi Rih for 24.2 billion hryvnia, after which the metallurgical plant was renamed into Mittal Steel Kryvyi Rih, and later into ArcelorMittal Kryvyi Rih.