Since the start of the full-scale war, the Kryvyi Rih Mining and Metallurgical Plant PJSC ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk region) has invested $325 million in production, according to Oleg Krykavsky, the company’s director of government relations, at the conference “Ukrainian Export: Through Thorns to the EU,” organized by the publication Ukrainska Pravda.
According to him, AMKR operates in difficult conditions, with electricity prices in Ukraine significantly higher than in Europe, because in Ukraine, companies buy expensive electricity on the market a day in advance, while in a number of European Union countries, long-term contracts are in place and special state programs to support metallurgy are being introduced to stimulate economic growth.
In particular, there are special mechanisms for reducing the cost of electricity on the French market through nuclear power plants, and in Germany, there are plans to allocate €6.5 billion and introduce a number of additional measures, including regulating the upper price limit to €60 per MWh (although industry insists on a price of €50), while in Ukraine, prices are constantly rising and have already reached $180 per MWh. Therefore, the Ukrainian government must also implement similar solutions to preserve industrial potential and jobs.
“Despite the current challenges, we continue to invest: during the full-scale invasion, our investments amounted to more than $325 million. These include repairs, modernization, logistics, preparation for European standards, and future capital projects,” Krykavsky stated.
He added that the key tasks for AMKR remain unchanged: integration into the EU, investment in development, and support for Ukrainian production even in the most difficult times.
ArcelorMittal Kryvyi Rih is the largest producer of long products in Ukraine. It specializes in the production of long products, in particular, rebar and wire rod. The company has a full production cycle, with production capacities designed for an annual output of over 6 million tons of steel, more than 5 million tons of rolled products, and over 5.5 million tons of pig iron.
ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.
