“Steel billion”: the Ministry of Economy and “ArcelorMittal Kryvyi Rih” signed a Memorandum on new investment projects

Kiev, April 14, 2021 Today Minister of Economic Development, Trade and Agriculture of Ukraine Igor Petrashko and General Director of ArcelorMittal Kryvyi Rih Mauro Longobardi signed a Memorandum for the implementation of new investment projects. The company plans to invest about US $ 1 billion in new projects for commodernization and production development. The Chairman of the Board of ArcelorMittal Lakshmi Mittal and the President of Ukraine Volodymyr Zelenskyy agreed on this during a meeting in Kiev today. The new investment program of ArcelorMittal Kryvyi Rih, Steel Billion, will focus on reducing the impact of production on the environment, sustainable development of the enterprise and introducing the principles of a circular economy: economical and reuse of resources and recycling of production waste. “Together with the President and the Parliament, we have launched effective instruments that increase the investment attractiveness of Ukraine. Today’s Memorandum is one of the first successful examples when a large international company plans to use appropriate instruments and increase investments and the number of jobs in Ukraine, ”said Prime Minister of Ukraine Denis Shmyhal after signing the Memorandum. He also thanked the company’s management for socially important initiatives, the development of medicine and the support of the communities where the production is located. “ArcelorMittal is a major investor in our economy, exporter and employer. Today we have reached an agreement that the company will significantly increase the volume of investments in Ukraine, as well as introduce modern and environmentally friendly production technologies in metallurgy, which is one of the strategic sectors of the economy. We expect a gradual recovery in investment activity in the country after the crisis of 2020, and cooperation with the world’s largest steel producer will serve as a powerful signal to investors that the time has come to invest in Ukraine, ”commented Igor Petrashko, Minister of Economic Development, Trade and Agriculture of Ukraine. At the same time, the General Director of ArcelorMittal Kryvyi Rih, Mauro Longobardi, noted that over 15 years of operation in Ukraine, the company has invested more than $ 5,000,000,000 in production development, and now offers a new program “Steel Billion”, according to which about $ 1 billion will be invested in eco-modernization. “We continue to implement large investment projects and are gradually moving towards the transformation of ArcelorMittal Kryvyi Rih into a modern European production. Steel Billion is our new program for Ukraine that will finance the introduction of green metallurgy technologies and projects to reduce carbon footprint. This is fully in line with the ArcelorMittal Group’s strategy of achieving carbon neutrality. Note that steel already has a lower carbon footprint than other materials: no other material has this ability to recover and reuse. The initiatives that we confirm with the Memorandum today are a progressive step in the Ukrainian industry. We count on the assistance and all-round support of the state along this path, ”commented Mauro Longobardi. Reference ArcelorMittal is the largest foreign investor and leader in the metallurgical industry in Ukraine. Annually ArcelorMittal Kryvyi Rih produces about 6,000,000 tons of steel, more than 80% of its products are exported. The company employs over 29,000 Ukrainian employees.

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