Mittal Steel Kryvy Rig To Increase Crude Steel Production 13.6% In 2006
3 March 2008
This was announced by the company’s (KSTL: BUY) CEO Narendra Choderi yesterday. KSTL plans to produce 7.9 mln mt of crude steel (up 13.6%), 6.8 ths mt of pig iron (up 10.4%), 7.9 mln of iron ore concentrate and 3.5 mln mt of coke. The company’s target is 10 mln mt of crude steel and 30 mln mt iron ore by 2010. Mittal Steel Kryvy Rig intends to invest USD 1.2 bln into modernization by 2009. The program envisions investing in iron ore mining (20% of the total amount), to become self-sufficient in this raw material, upgrade three blast furnaces and construct an oxygen converter shop to replace open hearths. The company also plans to reduce natural gas usage by replacing gas with coke and coal intensive technologies.
