ArcelorMittal Kryviy Rih plans CapEx of USD 398 mln in 2008

ArcelorMittal Kryviy Rih (KSTL: BUY) announced yesterday it plans CapEx of USD 398 mln by 2008 yearend, 11.8% (USD 47 mln) above the company’s plan at the beginning of the year. The company announced its 1H08 CapEx were USD 145 mln, including USD 67 mln investments into iron ore complex and USD 66 mln investments in steel production. In 2H08 ArcelorMittal Kryviy Rih plans to increase CapEx for iron ore complex to USD 75 mln and CapEx for steel production to USD 123 mln. The company will launch blast furnace #8 (daily capacity of 5 ths mt of pig iron; reconstruction cost of USD 130 mln) by September, and reconstruct blast furnace #6 (daily capacity of 4 ths mt of pig iron; reconstruction cost of USD 124 mln) by 2010.