Metinvest Will Invest USD 8 bln into Its Mariupol-Based Steel Works
OREANDA-NEWS. February 9, 2012. Metinvest, an international vertically integrated steel and mining group of companies, within the frames of its long-term development strategy implementation has declared it will be investing on average USD 1 bln every year through
Metinvest intends to invest around USD 8 bln in excess till 2020 into the reconstruction and modernization of its two integrated steel works in Mariupol – Azovstal and Ilyich Iron and Steel Works of Mariupol (Ilyich Steel) and increase the crude steel output by 35% to16 Mtonnes. The adopted integrated approach to modernizing the production facilities is based on improving production efficiency with simultaneous reduction of negative effect on environment. The strategy envisages reduction of gross emissions by 3.5 times and specific emissions per tonne of steel by 5 times.
We are determined to provide substantial reduction of negative exposure on environment while modernizing our facilities to improve production efficiency. This is how we are convinced any modernization shall be realized. Till 2020 we will have invested around USD 8 bln into such programmes at these two plants alone, that means average annual expenditures of about USD 1 bln, - said Igor Syry, Metinvest’s CEO. – “The measures to be realized in 2012 will have reduced emissions by 10%.