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Metinvest unveils investment priorities in future

12 Jun 2024 16:09 reported by Stanley Wang

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Oleksandr Myronenko, Chief Operating Officer of Metinvest Group, indicated that the company invested UAH 23 billion in modernizing the Kamet Steel and Zaporizhstal plants and their green transformation from 2022 to 2023.

For 2024-25, Metinvest's investment priorities include employees, equipment, and supporting Ukraine's Armed Forces. Metinvest plans to invest US$320 million in capital and US$350 million in operational improvements in equipment and work sites next year.

Currently operating at 65-70% capacity, Metinvest has spent over UAH 6 billion on humanitarian and military aid since the war began, including UAH 200 million monthly for fortifications and brigade support from Dnipro to Donetsk. Future plans include a potential US$2 billion joint steel plant project in Italy with Danieli.

Myronenko emphasized that every sixth employee serves in Ukraine's armed forces, impacting operations. Metinvest also develops and supplies defense equipment, such as corrugated steel shelters and anti-drone nets, enhancing soldier protection and equipment durability.

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