Metinvest has concluded a loan agreement in order to purchase equipment to modernize the hot-rolling mill-1700 at the Mariupol Ilyich Iron and Steel Works.
The equipment will be supplied by Primetals Technologies Austria GmbH.
The loan has been provided by Oesterreichische Kontrollbank Aktiengesellschaft.
The reconstruction will increase the 1700-mill capacity from 1.36 million tons per year to 2.5 million tons, as well as expand the product range.
Investments in the project are estimated at $110 million. (Ukrainian metal)