ArcelorMittal Krivoy Rog intends to boost capacity utilization from 30% to 50% in 2024

MOSCOW. Dec 1 (Interfax) - PJSC ArcelorMittal Krivoy Rog (AMKR) intends to boost the utilization of the enterprise's production capacity to 50% next year, Ukrainian media reported, citing a statement from the plant's corporate publication with reference to AMKR CEO Mauro Longobardo.

"In 2024, we plan to increase production volume and boost production capacity through the operation of two blast furnaces. Consequently, the utilization of our production capacity will increase from 30 to 50 percent," Longobardo said during a visit to the enterprise by a German delegation led by Ambassador Martin Jaeger.

Longobardo said that the iron and steel plant was ready to boost production as quickly as possible; and the company for this purpose has retained its staff, avoided layoffs, and kept production equipment in working order.

"We are also steadily moving along the path of transformation into a company that is consistently reducing its impact on the environment. Several steps in this direction have already been taken, for example, the closure of outdated facilities, namely, coke oven batteries No. 1-2 and the sinter plant for metals production, as well as commissioning the modern production facilities of coke oven batteries No. 5-6," Longobardo clarified.

ArcelorMittal Krivoy Rog is the largest producer of rolled steel in Ukraine. Arcelor Mittal Duisburg GmbH, Germany, owns 95.13% of AMKR's shares.