The Ukrainian iron ore and steel producer Metinvest Holding (Metinvest) plans to upgrade its capacities at Yenakievo Iron and Steel Works (EMZ), the Group's CEO Mr. Igor Syry has stated.
Under the scope of the investment program in question, Metinvest is to complete construction of a new blast furnace No.3 at EMZ and to reconstruct its blast furnace No.1, thus bringing EMZ's pig iron production capacity up to 3.5 millio mt per year. In addition, Metinvest plans to build two billet concasters and phase out the existing blooming (roughing) mill. As a result, EMZ will be able to produce four million mt of concast billet per year.
As for its finished steel (longs) capacity expansion projects, Metinvest plans to construct a new rolling mill at EMZ, while another one is currently under reconstruction.
As a result of the investment program, EMZ will be able to produce 3.5 million mt of crude steel annually within five years and four million mt of crude steel within six years.
The total investments in EMZ amount to about $2 billion.