Metinvest has attracted a loan of 43.2 million euros for 7 years to finance the Mariupol Ilyich Iron and Steel Works.
The loan is covered by the Austrian export guarantee issued by Oesterreichische Kontrollbank AG.
The money will be spent to finance the construction of the continuous casting machine No. 4 at Mariupol Ilyich by Primetals Technologies Austria GmbH.
The CCM will allow the company to decrease prime cost due to the drop in metal losses and energy consumption, thus increasing output.
The project capacity of the machine is 2.5 million tons of continuous cast steel per year, driving the total output at the works up by 1.5 million tons, to 4 million tons, with the complete shut down of the outdated CCM No. 1. (Ukrainian metal)