Metinvest Holding to Invest USD 7.5 bln in Azovstal and Enakievo Steel by 2017
11 December 2008
Ihor Korytko, head of the steel division at Metinvest announced during a conference call yesterday that the company plans to invest USD 7.5 bln to modernize its steel assets. The holding plans to replace all the furnaces at Azovstal (AZST: BUY), completely eliminating open-hearth technology. It also plans to construct modern small-section and heavy-section mills at Enakievo Steel (ENMZ: BUY).
