By 2030 Metinvest plans to have invested $8.8 billion into modernization of its capacities.
“Some $5.7 billion will be invested into metal assets, and $3.1 billion – into mining. This will be the metallurgy combined with IT, the so-called Industry 4.0”, the group marketing director Roman Kurashev said.
As an example he named the modernization of Zaporizhstal blast furnace No. 3.
According to him, the demand for raw materials in the world is decreasing.
“World steel capacities are underloaded. According to various estimates, that’s some 2.2 billion tons, which are 70% loaded. This is a very low capacity. Thus, metal industry will be working under conditions when the offer will be exceeding the demand”, Kurashev added. (Ukrainian metal)