On March 14, the Prime Minister of Ukraine Denys Shmyhal met with ArcelorMittal CEO Lakshmi N. Mittal. The meeting was also attended by Deputy Prime Minister of Ukraine - Minister for Strategic Industries of Ukraine Oleh Uruskyy, Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko and representatives of the mentioned ministries.
The Head of the Ukrainian Government welcomed the signing of a Memorandum between the Ministry of Economic Development, Trade and Agriculture and ArecelorMittal on support for investment projects with significant investments by PJSC ArcelorMittal Kryvyi Rih for the period 2022-2032.
According to the Memorandum, ArcelorMittal Kryvyi Rih is ready to increase its investment portfolio to about $ 1 billion for the relevant period.
Prime Minister Denys Shmyhal stressed that the signing of the memorandum was made possible under a law initiated by President of Ukraine Volodymyr Zelenskyy on "state support for investment projects with significant investments."
"Together with the President and Parliament, we have launched effective tools that increase Ukraine's investment attractiveness. Today's memorandum is one of the first successful examples when a large international company plans to use the appropriate tools and increase investment amounts as well as the number of jobs in Ukraine," said Denys Shmyhal.
Moreover, the Head of the Ukrainian Government stressed according to the Memorandum, a significant part of investments will be directed to projects that reduce the negative impact on the environment. In addition, Denys Shmyhal thanked the company's management for socially important initiatives, development of healthcare and support of communities where production is located.
"The Government calls on socially responsible business to join government initiatives in Ukraine, when investors become not only business partners of the State and communities, but also actively participate in the development of the region where they work. For its part, the Government is ready to fully promote the further development of mutually beneficial relations and will continue to work to improve the investment climate," said the Prime Minister.
The Memorandum provides for the following areas of development and investment:
- "green metallurgy", which contributes to less pollution and reduced carbon impact;
- sustainable development of iron ore mining - extension for 30 years of prospects of mining activity;
- creation of new productions, in particular rolling and bar mills;
- modernization of existing facilities;
- circulatory economy and waste management (biomass utilization, regulation of CO2 emissions, processing of slags and sludges).