The EBRD To Lend USD 200 mln To Mittal Steel Kryvyi Rig.

The bank’s Board of Directors approved this credit on April 4. 2006. Mittal Steel Kryvyi Rig (KSTL: BUY) will use the loan to increase production and implement energy saving measures. Concorde Capital: The total cost of the project is estimated at USD 50 mln. The company is planning to invest a total of USD 1.2 bln in its equipment modernization by 2009. The program envisages an overhaul of three blast furnaces, replacement of its open hearth shop with a basic oxygen furnace (BOF) shop, the launch of slab and flat steel production and the expansion of iron ore mining.