Ilyich to invest in modernization

The Ukrainian steelmaker Ilyich Iron and Steel Works of Mariupol (Ilyich) has announced that it will invest more than UAH 550 million ($109 million) in the modernization of its facilities in 2007. The company's modernization plan for 2007 comprises the modernization of 11 different units. In addition, Ilyich is to invest about UAH 90 million ($18 million) in the modernization of its daughter companies.