PJSC″ArcelorMittal Kryvyi Rih″ invested $ 282.3 mln in production development over 9 months

For January-September of this year, the capital and operational investments of ″ArcelorMittal Kryvyi Rih″ exceeded $ 282 mln. According to the forecast, in 2019 they will exceed $ 390 mln.

Despite a significant drop in metal products prices, especially for the second half of the year, of ″ArcelorMittal Kryvyi Rih″ maintains a high investment rate.

Particularly, this year the company completed the reconstruction of the small-section mill № 250-4, in which it was invested more than $ 50 mln.

In addition, hot tests are being carried out on a new steel billet continuous casting machine № 3, the CCM-2 is being completed- the total cost of this project is about $ 144 mln. Plus, the reconstruction of the second agglomeration shop does not stop:  three of the six sinter machines have already been upgraded and he fourth one is next. Dust emissions from each of the six sinter machines will be reduced by 250 tons per year – an aggregative reduction will be about 1,500 tons annually.

The company also builds an electric air blower manufactured by Siemens ($13 mln) and implements other projects for metallurgical production, which accounted for most of the investment.

For its mining department, ″ArcelorMittal Kryvyi Rih″ continues to purchase large-scale mining machinery for ore output and transportation new equipment for crushing and ore-dressing plants, as well as mines.

Despite the investment program budget cuts, the company plans to complete its key projects this year and start new ones. They will require considerable investment. It is about reconstruction of the first block of converter shop (converters № 1-3), modernization of the largest blast furnace № 9. Also, it was decided to build a pellet plant for the production of 4.5-5 mln tons of pellets per year, which will allow to completely close two sinter plants and, accordingly, to reduce harmful emissions from production by 54%, not by 38%. A loan of $ 350 mln was raised from the EBRD for the implementation of this project.

Besides, ″ArcelorMittal Kryvyi Rih″ continues the reconstruction of the second sinter plant at the cost of $170 mln, which is expected to be completed by the end of 2021. The largest mining and metallurgical enterprise of Ukraine intends to fulfill its obligation to reduce industrial demand on the environment.

Source: www.ukraine.arcelormittal.com