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Ukraine says ArcelorMittal to invest $1 bln to cut pollution

04/14/2021 | 12:31pm EST

KYIV, April 14 (Reuters) - ArcelorMittal will invest around $1 billion in upgrading its steel facilities in Ukraine to reduce pollution, Ukrainian President Volodymyr Zelenskiy was quoted as saying on Wednesday.

"As the largest foreign investor in Ukraine ... the company will launch a 'Steel Billion' investment programme in our country, providing for an investment of almost one billion dollars in the eco-modernisation of steel production in Kryvyi Rih," Zelenskiy's press service quoted him as saying.

During a meeting with ArcelorMittal boss Lakshmi Mittal in Kyiv, Zelenskiy stressed the urgent need to complete the modernisation of sinter, blast furnace and coke facilities, which are the biggest polluters.

The company has confirmed its readiness to complete the programme by the end of 2023, the press service said, without giving details of the work to be undertaken.

In 2019, ArcelorMittal's Ukrainian steel mill, charged with violating environmental standards, promised to invest $1.8 billion over five years to reduce emissions by 50-55%.

Ukraine's steel production fell to 5.293 million tonnes over January-March, down 0.5% from the same period last year. Ukrainian steel output fell by 1.1% in 2020 to 20.62 million tonnes. (Reporting by Pavel Polityuk. Editing by Mark Potter)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APERAM S.A. -0.93% 42.71 Real-time Quote.25.10%
ARCELORMITTAL -1.07% 24.545 Real-time Quote.30.01%
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