In October 2005, the transparent privatization of Kryvyi Rih metallurgical plant became the largest investment in Ukraine. The state received UAH 24.2 billion.
Lakshmi Mittal, Executive Chairman of ArcelorMittal, congratulated the largest mining and steel company in Ukraine: “Looking back at the years since ArcelorMittal successfully acquired Kryvorizhstal in 2005, the belief I had in the Kryvyi Rih plant 16 years ago remained just as strong today. As one of the largest steelmaking businesses in the group, ArcelorMittal Kryvyi Rih is an important strategic asset and I am proud of the contribution it has made to our group’s success. Over the years, many investments aimed at upgrading the plant’s technology, assets and products have been undertaken; over $5 billion has been invested in modernizing the plant since 2005. Additionally, we plan to invest a further $1 billion to improve the quality, efficiency and environmental performance of the Kryvyi Rih plant and position it for long-term, sustainable success. This is undoubtedly a challenge, but it is also a significant opportunity. In parallel, we must continue to focus on collaborating and strengthening our relationships with various Ukrainian institutions and stakeholders, to ensure we continue to positively contribute to our communities and to Ukraine’s economic development. ArcelorMittal Kryvyi Rih has made encouraging progress in recent years in its transformation to a state-of-the-art mining and metallurgical company and I believe has an exciting future ahead”. (AMKR/Ukrainian metal)
