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Ukraine's largest international vertically integrated steel and mining group of companies Metinvest channels over 700 million USD this year for modernization and reconstruction of their businesses. This was stated by Igor Syry, General Director of Metinvest, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
In the first half of 2013, 250 million USD were invested in modernization and reconstruction of the group’s enterprises, and the level of capital expenditures for the whole year is expected to exceed 700 million USD. Investment in development and maintenance of facilities can grow up to 1 billion USD in 2014.
As experts explain, the main investment projects implemented in 2013 include engineering and site preparation for construction of a new sinter plant, construction of coal injection plant at Yenakievo Metallurgic Plant (YMP), as well as preparation for the overhaul of blast furnace No 4 at Azovstal .
Also, Metinvest mentioned construction of the complex by cyclical-an-continuous method at Pervomaysk quarry, and reconstruction of gas treatment facilities for kilns in the Severny mining-and-processing integrated works (SevGOK).
In 2014, along with the projects started in 2013, construction of a new sinter plant at YMP and the continued construction of cyclical-and-continuous complex at Inhulets mining-and-processing integrated works are envisioned.