ArcelorMittal Kryvyi Rih is among the top 10 largest wartime investors

PJSC ArcelorMittal Kryvyi Rih was ranked 9th in the rating of the largest wartime investors according to NV.ua ‘Development cannot be stopped. Who invests the most in business and economy – top 50 largest Ukrainian investors’.

According to the company’s press service, ArcelorMittal Kryvyi Rih’s capital investments over the two and a half years of war totalled UAH 9 billion.

‘ArcelorMittal Kryvyi Rih, the largest mining and metallurgical plant in Ukraine, believes in Ukraine’s victory and helps the country on this difficult path. Our belief is backed up by our capital investments in key strategic projects that will improve our operations and make us more efficient in the long term,’ said Mauro Longobardo, CEO of the company.

According to him, almost 3,000 employees of the plant are defending Ukraine in the Armed Forces of Ukraine. Despite numerous wartime challenges, such as staff shortages and power outages, the company operates and ensures tax revenues to the state and local budgets, remaining a reliable partner of the state and Kryvyi Rih.

In August, NV surveyed more than 160 large companies operating in the national market about the amount of capital investment in their development during the full-scale invasion. The top 50 were selected, with ArcelorMittal Kryvyi Rih in the top 10.

As GMK Center reported earlier, since the beginning of the war, ArcelorMittal Kryvyi Rih has allocated over UAH 650 million to support Ukraine’s humanitarian efforts and overcome the consequences of Russian aggression. The company also remains one of the largest taxpayers in the country. Last year, payments to budgets of various levels totalled UAH 4.1 billion. In 2022, this amount was UAH 8.8 billion, and the plant also paid $75 million in advance in mineral extraction tax.

Despite the difficulties of wartime, ArcelorMittal Kryvyi Rih continues to invest in its production facilities. Thus, in 2024, the company plans to increase this volume by 20% y/y – to $155 million.

ArcelorMittal Kryvyi Rih is a full-cycle steel plant in Ukraine. Its production facilities are designed to produce over 6 million tonnes of steel, 5 million tonnes of rolled products and 5.5 million tonnes of pig iron annually. The company provides over 20,000 jobs.