OREANDA-NEWS. April 7, 2011. OJSC “ArcelorMittal Kryviy Rih”, the largest steelmaking plant in Ukraine announced about the scheduled salary increase in 2011 which will amount to 20% from January to October. Fixed salaries as well as additional payments, extra charges and bonuses will be increased.

Tariffs rates and fixed salaries will be increased in 3 stages. Increase by 3% is scheduled from January 1, 2011, by 7% - from April 1. The difference for January and February 2011 will be paid to all employees in the March salaries, and transferred to employees earnings record in service branches of banks on April 7. Additional salary increase by 10% is planned from October 1, 2011 while the advanced remuneration of labor system will be implemented at the plant. A new multi-level system of labor remuneration based on the grading has already been developed at the company. The trade union of the plant should approve its implementation.

Thus, the general salary in 2011 will be increased in accordance with the requirements of the Ukrainian legislation at OJSC “ArcelorMittal Kryviy Rih” and by the end of the year this increase will amount to 20% vs. 10%, which is compulsory in accordance with the Law of Ukraine "On State Budget ".

Rinat Starkov, CEO, OJSC “ArcelorMittal Kryviy Rih”: "We are one of the leaders in the Ukrainian steelmaking industry for salary level. As a responsible employer, our company fulfilled all social obligations in 2010, some obligations were over fulfilled on some points of the Collective Agreement. In 2011 we will continue to fulfill the remaining social obligations, in particular, we are going to put into operation two new hoses for 285 apartments for our employees. "