“Metinvest’s” Capital Investments For The 3rd Quarter

by Roman Cheplyk
Monday, December 6, 2021
1 MIN
“Metinvest’s” Capital Investments For The 3rd Quarter

Metinvest's capital investment amounted to $822 million, which is 79% more than last year

In particular, according to the published report, investments in strategic projects for 9 months of 2021 increased by 23%, and investments in support projects increased by 67%. They brought their shares in total investments to 23% and 63%, respectively (33% and 67% for 9 months of 2020). 

During the reporting period, the group embarked on a new major project to expand production capacity — the construction of a new workshop for cold-rolled steel, galvanized and painted coils. Investments in the first phase, which is expected to be completed by the end of 2024, will exceed $800 million. The project is expected to be completed in the first half of 2022.

Other investment projects include a new line for metal plasma cutting at Metinvest Trametal, a new path for a cyclic-flow technology complex at Ingulets mining and processing plant, and a new CPT for transporting rocks at Severny mining and processing plant. The Group also continued constructing a new block 11 at the mine of the recently consolidated Pokrovske mine administration to maintain production volumes.

 

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