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Ilyich Iron and Steel Works

Metinvest to invest $8 bln. into its Mariupol-based steel works by 2020

7 February 2012 // Press centre Metinvest Group

Metinvest, an international vertically integrated steel and mining group of companies, within the frames of its long-term development strategy implementation has declared it will be investing on average $1 bln every year through 2020 in development of its Azovstal and Iliych iron and steel works. The investments will allow increasing joint annual steel output at these steel plants by 35% to 16 Mtonnes and reduce the amount of specific emissions 5 times down to 7 kg per tonne of crude steel.

Metinvest intends to invest around $8 bln in excess till 2020 into the reconstruction and modernization of its two integrated steel works in Mariupol – Azovstal and Ilyich Iron and Steel Works of Mariupol (Ilyich Steel) and increase the crude steel output by 35% to16 Mtonnes. The adopted integrated approach to modernizing the production facilities is based on improving production efficiency with simultaneous reduction of negative effect on environment. The strategy envisages reduction of gross emissions by 3.5 times and specific emissions per tonne of steel by 5 times.

"We are determined to provide substantial reduction of negative exposure on environment while modernizing our facilities to improve production efficiency. This is how we are convinced any modernization shall be realized. Till 2020 we will have invested around $8 bln into such programmes at these two plants alone, that means average annual expenditures of about $1 bln", - said Igor Syry, Metinvest’s CEO. – “The measures to be realized in 2012 will have reduced emissions by 10%». 

For editors:

Metinvest is a vertically integrated group of mining and steel companies managing assets in every link of the production chain, from iron ore materials and coal mining to coke production and finishing with semi-finished and finished products manufactured from steel, pipe products and coil production, as well as other high-value-added products. The Group consists of mining and steelmaking facilities in Ukraine, Europe and the USA, and its sales network covers all key world markets. Major shareholders are SCM Group (71.25%) and Smart-Holding (23.75%), which take part in Metinvest Group’s management on terms of partnership.

METINVEST HOLDING LLC is the managing company of Metinvest Group.