Austrian steel producer Voestalpine has confirmed to SteelOrbis that the company has concluded talks with the Ukrainian government on the subject of the possible construction of a new steel mill in the country.
Although the parties concluded a short mutual agreement, the Voestalpine representative underlined that no decision in favor of Ukraine has been taken yet. The final decision on the location of the mill will be taken by the end of 2008, the company representative added.
According to Voestalpine's proposal, the new mill would be located on the Black Sea shore and would have an annual production capacity of five million metric tons of flat steel products. The total value of the proposed investment is estimated at €5 billion.