The European Bank for Reconstruction and Development (EBRD) has announced that it will provide a loan of up to $350 million to support the modernization and environmental upgrade of Ukraine’s largest steel mill ArcelorMittal Kryvyi Rih, Ukrainian subsidiary of global steel giant ArcelorMittal.
According to EBRD’s statement, the investment for the modernization and environmental upgrade will allow ArcelorMittal Kryvyi Rih to upgrade its facilities for sintering and reline one of the plant’s blast furnaces. The investment will also allow the addition of two new continuous casters, along with improvements to the plant’s competitiveness, energy efficiency and environmental performance.
The project supports the EBRD’s Green Economy Transition approach as it will reduce ArcelorMittal Kryvyi Rih’s CO2 emissions. It will also significantly reduce dust emissions from a current 14,700 ton per year to about 3,000 ton per year, as well as other specific emissions, including nitrogen oxide.