The Ukrainian flat steel producer Ilyich Iron and Steel Works of Mariupol (Ilyich) expects in 2010 to register an increase in its commercial product output of UAH 11.5 billion ($1.445 billion) to UAH 24.1 billion ($3.03 billion) - up 91.3 percent year on year, Ilyich's general director Vladimir Boyko has said.
According to Mr. Boyko, in 2010 Ilyich will register an increase of 38.4 percent in its agglomerate output, a 31.1 percent growth in its pig iron production, a 31.7 percent rise in its crude steel output and a 30.1 percent increase in its hot rolled steel output, all compared to 2009.
"Compared to the first half of the year, in the second half there has been a significant increase in production. This was possible due to the merger with Metinvest from July 2010. This consolidation has allowed us to compensate for losses and to ensure more stable supplies of raw materials. Regardless the continuing difficulties in the steel market, we were able to more fully load production with orders," Mr. Boyko said.
For 2011, Ilyich has developed a business plan which envisages increases of 10 percent in agglomerate production, 5.7 percent in pig iron output, 5.2 percent in crude steel production, 27.9 percent in hot rolled product output, and an increase of 29.3 percent in finished steel product output. At the same time, in 2011, Ilyich plans to invest UAH 1.2 billion (about $150.8 million) in the technical reequipment of the plant.