In 2017 Metinvest Group is going to invest UAH 7.4 billion in Ingulets, Central and Severniy Mining and Processing Works, up 4 times YoY.
By investing in GOKs the group demonstrates its commitment to ramp up production, improve product quality, cut costs, and create a comfortable working environment for its employees. Updated production equipment, overhauled buildings and construction of strategically important facilities will help Metinvest cement its positions in the iron ore market and identify key development areas.
Thus, the group plans to invest about UAH 2 billion in the renovation of its fleet of heavy trucks and mining equipment at the Kriviy Rih-based GOKs.
Investments in retrofitting and repairs of buildings, facilities and equipment at every production stage will total UAH 2.5 billion.
In addition, GOKs will receive UAH 0.5 billion to expand their tail facilities.
To implement the investment program Metinvest Group will use the dividends received by GOKs in 2014-2015. The decisions to pay the dividends were made at the General Shareholders’ Meeting of GOKs held in December 2016 and January. (SCM/Ukrainian metal)