During the Ukrainian Congress of Metallurgists and Iron Ore Producers which took place in Dnepropetrovsk on March 4, the head of the Ukrainian Metallurgists Federation Mr. Vasiliy Kharakhulakh stated that in 2008 the country's steel producers are planning to increase their investments by 28 percent year on year to UAH 13 billion ($2.6 billion).
The leading position according to size of investment plans is occupied by Alchevsk Iron and Steel Works, which aims to invest about UAH 3.7 billion ($733 million) in capacity development. Meanwhile, ArcelorMittal Kriviy Rih, Ilyich and Azovstal plan to invest about UAH 1.3-1.5 billion ($258-297 million) each in production expansion and modernization.
In 2008, Ukrainian steel producers plan to direct their investments toward the construction of new and the modernization of old production facilities, and also toward the introduction of environment friendly and energy saving technologies.