In 2017 ArcelorMittal Kriviy Rih will invest $267 million in modernization.
According to the company CEO Paramjit Kahlon, the company has good results.
“In a year we produced 7.5 million tons of steel. The company has been working stably for the past 4-5 years. Its proximity to the Black Sea makes it unique as to the geographical location. We have grand plans on modernization, as the company has not been receiving funds for a long time”, he said.
In particular, some of major projects are the construction of the ladle furnace, coking battery and the sinter manufacture modernization.
“In 2017-2020 we will invest over $1 billion. This year – $267 million”, Kahlon added. (Ukrainian metal)