ArcelorMittal Kryvyi Rih Signs Steel Billion MoU with Ukraine
ArcelorMittal Kryvyi RihArcelorMittal Kryvyi Rih

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

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.

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