ArcelorMittal Krivoi Rog to launch second blast furnace in April - CEO

MOSCOW. March 11 (Interfax) - ArcelorMittal Krivoi Rog (AMKR), Ukraine's largest steelmaker, plans to launch another blast furnace in April to increase production and exports, Ukrainian media reported, citing AMKR CEO Mauro Longobardo.

AMKR plans to increase production in 2024 because there is good news about the opening of marine logistics, Longobardo said on social media. He said he would not go into details, but that Black Sea ports are accessible for the company's type of products - iron ore concentrate, pig iron and finished products.

AMKR intends to maximize production in its mining division and in April launch metallurgical production with two blast furnaces, Longobardo said. As a result, the plant will operate at 50% of capacity, he said.

Looking forward, Longobardo said AMKR is not currently carrying out major strategic projects involving foreign contractors, but it is reviewing its strategy so as to completely comply with European Union principles. The company tried to take into account EU requirements before, but it believed it would have enough time, he said.

For Ukrainian exporters, given their inability to carry out major decarbonisation projects, an extension of the transition period for the Carbon Border Adjustment Mechanism (CBAM) and postponement of financial obligations would be an important measure of support, Longobardo said.

AMKR specializes in making long steel products, including rebar and wire rods.