KYIV. March 21 (Interfax-Ukraine) – PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) intends in 2017 to increase capital investments and financing for repairs, maintaining the equipment and buildings efficiency by 75% compared to 2016, to almost UAH 11 billion ($400 million) from UAH 6.3 billion of capital and operating investments in 2016.
ArcelorMittal Kryvyi Rih CEO Paramjit Kahlon said at a press conference at Interfax-Ukraine that in 2017 actual capital investments would amount to about $250 million, the rest would be repairs, maintenance of equipment and buildings.
“ArcelorMittal Group has started investing in production and is fulfilling its obligations. Most of the projects – about 70% – are aimed at renewing technologies or improving the environment: these are sewage treatment plants, etc.,” the top manager explained.
The director general stressed ArcelorMittal invests significant funds in Ukraine, in the enterprise, noting that investments in ArcelorMittal Kryvyi Rih until 2020will amount to about $1.2-1.5 billion.
“The main tasks of this stage of the investment program of ArcelorMittal Kryvyi Rih are to increase production efficiency, replace obsolete equipment with new and environmentally safe, significantly improve the ecological situation both in Kryvy Rih and throughout the region,” the CEO said.
