ArcelorMittal has temporarily suspended all investment projects at ArcelorMittal Kriviy Rih, in particular, construction of the pelletizing factory with the capacity of 5 million tons per year.
According to the company Q1 report, investment projects in Ukraine valued at $200 million are suspended. Funds intended for the AMKR will be redistributed to the renewable energy projects in India.
“The first pellets were expected to be produced at the new factory in Q4 2023 with the capital investments at $300 million. But we have revised our plans due to the Russian invasion,” the reports said.
Now AMKR operates with one of its three blast furnaces re-launched on April 11. Iron ore mines operate at 50-60% of capacity. (Ukrainian metal)