AMKR invested $117 million in production development in H1

ArcelorMittal Kryvyi Rih PJSC invested $117 million in production development in H1, including $61.6 million in capital investment and $55.6 million in operating costs,

according to the Company’s press release.

“The Company does not abandon its plans even in the face of falling prices for rolled steel products in global markets and a sharp decline in sales amid the coronavirus pandemic. The construction of new modern units and modernization of the existing ones make it possible to gradually drop outdated technologies,” the message said.

The construction of a modern pelletizing plant is under way. Its launch will make it possible to close two sinter shops. The new plant’s capacity will reach 5 million tons of pellets per annum. Investment in this project amounts to around $300 million.

Furthermore, the Company is reconstructing the sinter shop No. 2. Four out of the six sinter machines of the shop have already been modernized. This project, extremely important from an environmental point of view, is estimated at $180 million.

Also, commissioning of new continuous casting machines No. 2 and 3 are in progress. The reconstruction of equipment costs $160 million.

Works are underway at the 13th section of the beneficiation plant No. 2. The Company installed new hydrocyclones worth $330 million. An area was also prepared for the construction of a new dump, Stepnoy-2.

“In 2019, capital and operating costs of ArcelorMittal Kryvyi Rih amounted to $415.4 million. Over 14 years of operation in Ukraine, the Company invested a total of $9.7 billion,” the press release claimed.

As GMK Center reported earlier, in 2006–2019, AMKR’s investment in environmental modernization totaled ₴6.8 billion. Over this time, the Company has reconstructed and built more than 120 highly efficient gas-cleaning units, cut air emissions by 42.7% and wastewater discharge by 78.4%.

In the next five years, AMKR is expected to invest $1.5 billion in production, including $700 million in modernization of equipment for environmental purposes until 2023.

ArcelorMittal Kryvyi Rih PJSC is an integrated steelmaking company, part of the ArcelorMittal Group. Its activity covers the entire production route from iron ore mining and coke production to manufacture of finished metal products. ArcelorMittal Kryvyi Rih produces semi-finished and long products.