Mittal Steel Krivoi Rog Mill’s new owner unveils long-term investment program to boost output of ready produce
The public joint-stock company Mittal Steel Krivoi Rog has developed an investment program for the period through 2010, which, in particular, envisages steps to increase output of finished products and lower the share of semi-finished commodities.
In particular, by 2010 manufacture of liquid steel will reach 10 tons a year. The company also intends to keep its lead in making long rolled metal, to boost manufacture of flat rolled metal to meet the market’s growing demand.
With a view of reaching these objectives, the company will reconstruct its mill’s blast furnaces nos 5, 6, and 8, will replace Martin — Siemens open hearth furnaces with converter facilities, will introduce continuous steel casting technologies, will embark on making ready-made sheet steel, will invest heavily in developing and exploiting iron ore deposits. The plan also provides for implementing a set of natural environmental protection measures.
The plan is also meant for increasing the share of more expensive products in the company’s production output. Besides, the plan incorporates a set of steps toward drastically reducing energy consumption, lessening the mill’s dependence on supplies of natural gas through shifting to electric power.
As the mill’s new owner believes, the company’s new sales strategy will help the steel manufacturer establish direct contacts with metal consumers.
As far as sales of rolled metal are concerned, this product will be marketed primarily in Ukraine, according to the company’s CEO Narendra Chaudhary.
Besides, sales of rolled metal will be boosted in other CIS countries, in East Europe, as well as in South Africa, the Middle East, West Europe and eventually in East Asia and Latin America. The company will also work toward increasing exports of metal to Russia.
As Mr Chaudhary noted, the company intends to export metal to the USA as America’s metal market is so vast that sales of products by the Mittal Steel Krivoi Rog will in no way infringe on interests of the concern’s
The company Mittal Steel Germany GmbH bought the 93.02 percent stake in the KryvorizhStal steel mill on October 24, 2005 for 24.2 bn. UAH (around 5 bn. USD) at a repeated tender. The new owner changed the company’s name, which is now called the Mittal Steel Krivoi Rog.
