Kametstal Iron and Steel Works, a subsidiary of Ukrainian mining and steel producing group Metinvest, has announced that it has allocated over UAH 2.5 billion ($60 million) for its investment program for this year.
Accordingly, the company will invest about a third of the allocated budget in the modernization of its blast furnace No. 9 to ensure stable production. Moreover, Kametstal will overhaul its energy infrastructure, including the construction of an alternative power plant consisting of solar panels and renewal of its water and gas pipelines. Also, it will construct a new blast furnace gas collector and modernize its continuous casting machine No. 1.
Kametstal aims to implement a total of 114 investment projects during the current year.