According to Mr. Jean Jouet, CEO of ArcelorMittal Kriviy Rih, the Ukraine-based subsidiary of the world largest integrated metals and mining company ArcelorMittal, the company plans in 2010 to invest more that $200 million into the implementation of its modernization projects.
Mr. Jouet said “After the slowdown in 2009, this year we intend to increase our output, at the same time to continue the modernization projects, and to fulfill our investment obligations for which we have provided an investment of over $200 million.”
He said that the company plans might be affected, if no solution is found in relation to the VAT refund issue in Ukraine. (SteelOrbis)