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  • 2008 July 25 11:08

    IUD and ArcelorMittal Kryviy Rih eyeing construction of new deep sea port at Black Sea

    The joint statement of OJSC “ArcelorMittal Kryviy Rih” CEO Jean Robert Jouet and IUD CEO Oleg Mkrtchan announced the foundation of specific consortium.

    The basis of cooperation for two large steelmaking companies will be mutually beneficial partnership. Joint supervisory board will be established to implement the given projects.

    The building of deep sea port at Black Sea, privatization and completion of Kirovograd oxidized ore mining and processing enterprise and mining of manganese ore deposit – these are three main points of protocol of intend which was signed earlier by the representatives of OJSC “ArcelorMittal Kryviy Rih” and Industrial Union Donbass. Thus, KGOKOR launch will provide with raw material the number of Ukrainian steelmaking companies that are in short supply of high-quality iron ore raw material.

    The building of new deep sea cargo port in Ukraine will increase the capacities of Ukrainian sea gate as a transit state which today are limited by the 30 years old opportunities.

    “We are glad that the things are moving. We have been negotiating as for consortium creating for KGOKOR privatization and solving of the problems which are important for each participant of mining and smelting complex of Ukraine for a long time. To my mind, such a partnership will be beneficial for both parties”, - OJSC “ArcelorMittal Kryviy Rih” CEO Jean Jouet said. The participants of the Consortium are sure that the union of their potential and experience will contribute to the success of the projects and the Consortium will become the reliable partner of the state as for infrastructure development.

    Note: OJSC “ArcelorMittal Kryviy Rih” is the largest rolled steel products manufacturer in Ukraine specializing in manufacturing long products, including reinforcing steel bars and wire rods. The production facilities of the full-cycle enterprise enable to manufacture over 6 m tons of rolled products, about 7 m tons of steel and over 7.8 m tons of hot metal.

    The main sales markets for metal products are situated in the Middle East, Europe, Africa, Algeria, EU and Eastern Europe.
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