KZhRK to maintain focus on investment program in 2021

Friday, 09 October 2020 14:40:39 (GMT+3)   |   Istanbul
       

In 2021, within the scope of its development strategy for the years 2018-22, Dnipro region-based Ukrainian iron ore producer Kryviy Rih Iron Ore Industrial Complex (KZhRK) has announced its intention to invest UAH 680 million ($23.8 million), keeping the funding for the company’s investment program unchanged compared to 2020. The investment program is aimed at maintaining the production output of the company, improving the quality of material, and decreasing production costs, in particular.

“We are aiming to maintain the investments in 2021 at UAH 680 million, unchanged year on year, investing more than eighty percent of funding into maintenance works, in particular, into the opening of new mines, purchases of new equipment, maintenance of turbochargers, etc.,” head of the company’s department of strategy and investment, Petr Solodky, commented.

Meanwhile, in the current year up to September 1, the company spent UAH 333.9 million of the UAH 683.8 million allocated for the full year of 2020, in particular UAH 71.4 million on overhauls and UAH 265.5 million on maintenance works.


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