Metinvest to invest in production facility modernization

Wednesday, 08 February 2012 10:58:33 (GMT+2)

The Ukrainian mining and steel producing group Metinvest has announced that it will invest $1 billion every year through 2020 for development of its subsidiaries Azovstal and Ilyich Iron and Steel Works of Mariupol, both based in Mariupol.
 
Metinvest aims to increase joint annual steel output at these steel plants by 35 percent to 16 million mt and reduce the amount of specific emissions by five times down to 7 kg per ton of crude steel. During the modernization of production facilities, the company plans to improve production efficiency while reducing negative effects on environment.

According to Metinvest's statement, it will have invested $8 billion by 2020 and the measures to be taken in 2012 will reduce emissions by 20 percent.

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