Investment in Ukrainian steel industry in 2009 dips

According to preliminary data, in 2009 the investment volume into Ukrainian metallurgy upgrade did not exceed UAH 5 billion.
In recent years the metallurgists kept increasing the investments into main capacities upgrade. The investment started picking up in 2007, when the investments volume amounted to UAH 10.5 billion.
In terms of specific investments per 1 ton of crude steel it was more than in the EU countries in 2008. In 2008 metallurgical plants were planning to increase the investments to UAH 13 billion but in fact the investments volume amounted UAH 8.6 billion taking into account the economy conditions.
Mr. Vasiliy Kharakhulakh, CEO of Metallurgprom, said “In 2009 total investment volume would not amount more than UAH 5 billion, i.e. by more than two times less than in 2007.”
 As a positive example Mr. Kharakhulakh noticed the upgrade of the Alchevsk Iron and Steel Works in 2009. In particular, the equipment for coal injection into blast furnace well was introduced in 2009. The manufacturing testing is currently being held.
The expert also said that the technology is to be introduced at Zapirozhstal, Mariupol Ilyich Iron & Steel Works, Yenakievo Iron and Steel Works and some other plants. (SteelGuru)