ArcelorMittal removes new $250 mln pellet plant in Krivoi Rog from strategic projects list

MOSCOW. Aug 1 (Interfax) - ArcelorMittal, which owns Ukraine's biggest steel producer ArcelorMittal Krivoi Rog (AMKR), has removed a planned pellet plant in Krivoi Rog from strategic projects list.

"The previously announced strategic capex envelope has now been revised to reflect change of scope and inflation to the Liberia and Monlevade projects whilst the Ukraine pellet plant project previously on hold has been removed [from the strategic capex envelope]," Ukrainian media quoted ArcelorMittal as saying in a second quarter and half year 2023 report.

AMKR has already said the project is on hold.

AMKR CEO Mauro Longobardo told reporters in the summer of 2021 that AMKR was carrying out a project to build a new pellet plant with the participation of China's Sinosteel. It should have been completed by the end of 2023 or early 2024.

It was thought the plant would produce up to 5 million tonnes of pellets per year. Investments in the project were estimated at more than $250 million.