Mittal to reduce gas consumption at Kryvorizhstal
Mittal Steel, the world's largest steelmaker, announced plans to reduce natural gas
consumption at its steel plant in
Ukraine, following sharp hike in gas price by
Russia.
As previously reported by SteelOrbis, Mittal acquired a 93.02 percent stake in
Ukraine's largest steel plant Kryvorizhstal in October last year at $4.8 billion.
Following the gas price hike by
Russia, Mittal Steel indicated that it would reduce natural gas
consumption at Kryvorizhstal and compensate it with cheap coal imported from
China and
Australia.