ArcelorMittal Kryvyi Rih mining and metallurgical combine (Dnipropetrovsk region) has temporarily suspended part of investment programs.
The plant has said this in a statement, Ukrainian News Agency reports.
"The Russian invasion of Ukraine forced ArcelorMittal Kryvyi Rih to temporarily halt several investment projects, including the construction of a pelletizing factory, which was supposed to open in late 2023. The company continues to build the Third Map tailings storage, vital for continued ore mining, and modernize blast furnace No. 9, usually producing 2/3 of the plant's cast iron. Investments in these two projects are estimated at USD 420 million," it says.
It is noted that the company reorganizes its strategic project management division and brings it in line with temporary changes in the situation, loads and goals.
"Stefano Baici, an experienced manager in industrial engineering, took the position of Director of Department. He replaced Aurelio Mortoni, who quit due to family circumstances before the outbreak of war. For the past seven years, Baici has worked as the Chief Operating Officer of Danieli Construction International," it said.
As Ukrainian News Agency earlier reported, ArcelorMittal Kryvyi Rih plans to increase shipment of products through Polish ports in the Baltic Sea.
On April 12, ArcelorMittal Kryvyi Rih partially resumed production.
On March 3, the international holding ArcelorMittal decided to suspend steel production at ArcelorMittal Kryvyi Rih to ensure the safety of employees and assets.
In October 2020, ArcelorMittal Kryvyi Rih began construction of a new pelletizing factory with investments of more than USD 250 million.
Mittal Steel Germany GmbH, which is part of the ArcelorMittal international holding, owns 95.1283% of the plant's shares.
ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine, specializing in the production of long products, in particular rebar and wire rod.
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