Metinvest does not intend to shut down its outdated open-hearth manufacture at Zaporizhstal before the oxygen-converter shop is constructed.
At the same time, construction is postponed because of the lack of funds.
Last year the group prepared a construction site and built a new road in Zaporozhye valued at 220 million UAH.
“But because of the recession in the global economy, protective measures against Ukrainian rolled metal and now the coronavirus pandemic, we have had to make amendments to the process and are currently unable to attract $1.5 billion of investments for construction”, the group CEO Yuri Ryzhenkov said. (Ukrainian metal)