Alchevsk Steel to spend USD 215 mln on investments in 2012

Alchevsk Iron & Steel’s (ALMK UK) majority shareholder, the Industrial Union of Donbas, approved USD 215 mln in investments for the enterprise in 2012, the company’s CEO said yesterday. Exact investment projects were not disclosed.

Roman Topolyuk: We believe a large portion of the investments might be spent on maintenance. The rest of the funds could be channeled to partial continuation of previously suspended projects, including the construction of a blast furnace and the long-expected launch of a gas turbine, but given uncertain steel markets, we would not be surprised if Alchevsk Iron & Steel again drags out implementation of previously announced projects.