ArcelorMittal Kriviy Rih, Ukraine-based subsidiary of the world's largest steel producer ArcelorMittal, has announced an investment program worth $2 billion aimed at the modernization of the mill over the next four years.
The plant intends to replace its old open-hearth furnaces and switch to the oxygen converter method of production with a continuous steel caster, and also to install a new rolling mill for flats.
In addition, ArcelorMittal Kriviy Rih plans to shut down its old agglomerate factory and to start the construction of a new enriching plant.
In 2007 alone, the plant is planning to invest UAH 1.64 billion ($328 million) in the modernization of its facilities.