PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) plans to invest $700 million in modernization of equipment before 2023, CEO Mauro Longobardo has said.
“We have a specific plan focused specifically on protecting the environment. From 2020 to 2023, we plan to invest $700 million only on the environment,” he said during a presentation of the Ecology and Sustainable Development Committee under auspices of the European Business Association (EBA) on Tuesday, responding to a question of Interfax-Ukraine.
According to Longobardo, the company considers the new committee as a platform, including for discussions of a transition period for the transformation of the enterprise into a more modernized one.
The CEO of ArcelorMittal Kryvyi Rih said that the company plans to update the sinter plants and also invest in a new pelletizing factory.
“We plan to complete the repair and upgrade of two sinter plants by June 2021. The new pelletizing factory will take longer, at least 24 months is required from the moment we finalize negotiations with the contractor,” Longobardo said.