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ArcelorMittal's Ukrainian operations agree to US$1.8B modernization plan

ArcelorMittal's Ukrainian steelmaker, ArcelorMittal Kryviy Rih, said Aug. 8 that following a meeting with President Volodymyr Zelensky at the end of July and negotiations with his office, the company is continuing to modernize its plant and resumed pre-commissioning of a continuous casting machine that was halted by the country's security service and regulators after July 20-21 inspections.

The company agreed on several initiatives with the office of Ukraine's recently elected president covering modernization, resuming construction of a continuous casting machine, corporate social responsibility, and using slag in building new roads across the country, according to an August 8 news release.

ArcelorMittal Kryviy Rih will invest over US$1.8 billion in modernizing its operations over the next five years to bring its emissions down by between 50% and 55% as a first step. Sintering operations account for about two-thirds of its emissions.

The steelmaker will also press on with construction of its continuous casting machine No. 3, which was interrupted in July by an inspection by the Security Service of Ukraine, the State Emergency Service and the State Nuclear Regulatory Inspectorate.

ArcelorMittal Kryviy Rih and Zelensky's office will also actively cooperate with the Ukrainian government on corporate social responsibility programs, with a focus on healthcare. The company will provide 100 million Ukranian hryvnia per annum to develop medical facilities in Kryviy Rih. The steelmaker will invest 50 million hryvnia in repair and maintenance work at a stadium in the city, half in 2019 and half in 2020.

The president's office is also interesting in using steelmaking slag in building new concrete roads across Ukraine, and ArcelorMittal Kryviy Rih will support this, it added.

As of August 7, US$1 was equivalent to 25.47 Ukrainian hryvnia.