Metinvest plans this year to increase the loading of its plants situated in the city of Mariupol. “This year our Mariupol plants intend to produce over 9 million tons of pig iron and 8 million tons of steel”, the group CEO Yuri Ryzhenkov said. When the Mariupol Ilyich Iron and Steel Works finishes constructing the…
Metinvest will try to make the European Commission cancel the fixed duty of 60.5 euro per ton for the delivery of hot-rolled coils to the EU. According to Metinvest CEO Yuri Ryzhenkov, Mariupol Ilyich Iron and Steel Works, the capacity of which is 1-1.5 million tons of hot-rolled coils per year, used to supply some…
Metinvest CEO Yuri Ryzhenkov has noted the considerable improvement of the railroad connection with Mariupol. “In March there were some 20 cargo trains per day, which was good for our operation”, he said. “Taking into account reconstruction of our plants and the necessity to load the Mariupol Trade Seaport, we need some 26-28 cargo trains…
Metinvest, the vertically integrated steel and mining group of companies, has announced the completion of the refinancing of its $2.271-million debt, consisting of the issuance of two tranches of bonds and the amendment and restatement of its pre-export finance (PXF) facility. As a result, Metinvest issued $1.592 million in new bonds and secured $765 million…
Metinvest intends soon to eliminate all the claims from the Antimonopoly Committee of Ukraine to purchase Dneprodzerzhinsk By-Product Coke Plant. “We’re preparing an offer to the Committee, which will satisfy them and allow us getting the green light to buy the plant”, Metinvest CEO Yuri Ryzhenkov said. The official refuse was received in March. “There…
Metinvest has issued two Eurobond lots with maturity on April 23, 2023 for the amount of $825 million and with maturity on April 23, 2026 for the amount of $525 million. According to Bloomberg, the interest rate is 8%. The 5-year bonds have been issued at 98.986% of the nominal value. The 8-year bonds have…
Last year the volume of the Ukrainian metal market increased by 5-6%. This year Metinvest expects the increase of consumption by 8%. “We hope that the infrastructure construction and the metal processing industry will help in that”, Metinvest sales director Dmitry Nikolayenko said. The company has a developed sales network, selling historically high volumes of…
Metinvest decided to shut down Donetskkoks on the temporarily uncontrolled territory of Ukraine because of the inability to secure its profitable operation. The decision to liquidate the company was taken on March 29. All the shareholders voted in favor. After all the creditors’ claims have been satisfied, the company might have some assets valued at…