ArcelorMittal Kryvyi Rih Signs Steel Billion MoU with Ukraine
Ukraine’s Minister of Economic Development, Trade and Agriculture Mr Ihor Petrashko and ArcelorMittal Kryvyi Rih CEO Mr Mauro Longobardo signed a Memorandum on implementation of new investment projects on 14 April 2021. The company plans to invest about USD 1 billion in new projects for eco-modernization and production development. Steel Billion, a new investment program of ArcelorMittal Kryvyi Rih, will focus on environmental impact reduction, company sustainable development and introduction of circular economy principles: efficient use of resources, recycling and waste utilization.
ArcelorMittal Kryvyi Rih CEO Mr Mauro Longobardo highlighted that during 15 years of operation in Ukraine, the company has invested over USD 5 billion in production development, and now offers a new program Steel Billion, according to which about USD 1 billion will be invested into eco-modernization. He said “We continue to implement large investment projects and are gradually transforming ArcelorMittal Kryvyi Rih into a modern European production. Steel Billion is our new program for Ukraine. By this program, we will finance green steel-making technologies and de-carbonization projects. This fully complies with ArcelorMittal Group's strategy to become carbon-neutral. Actually, steel already has a lower carbon footprint compared to other materials: no other material has the same recovery and reuse capacities. The initiatives to be confirmed under the Memorandum today are a step forward in Ukraine’s industry. We count on cooperation and comprehensive support of the government on this way”, Mauro Longobardo commented.
ArcelorMittal Kryvyi Rih produces about 6 million tonnes of steel, over 80% of its products are exported. 29 000 Ukrainians work in the company.