PJSC ArcelorMittal Kryvyi Rih considers an opportunity to acquire long-term loan from European Bank for Reconstruction and Development (EBRD) additionally to its own investments into production development. In October 2017, EBRD Board of Directors will consider the provision of credit funds of EUR 350 mln to the company. From this sum EUR 200 mln is the funds of EBRD and up to EUR 150 mln will be raised from commercial creditors by means of bank’s sources. The borrowed funds will be used for partial financing of large-scale investing program of PJSC ArcelorMittal Kryvyi Rih for the sum of over USD 1.1 billion during the nearest five years.
The main tasks of this stage of PJSC ArcelorMittal Kryvyi Rih’s investment program is the modernization of production, replacement of obsolete equipment and technologies for new, environmental safe ones, improvement of environmental situation both in Kryvyi Rih and in the whole region. In particular, EBRD funds will be fully directed to construction of new industrial aggregates instead of obsolete objects, which will be shut.
The message at EBRD’s website says that the funds of the loan should increase competitiveness, energy efficiency and environmental indicators of PJSC ArcelorMittal Kryvyi Rih. ArcelorMittal S.A. (Luxembourg) will be a borrower, which will grant a loan to PJSC ArcelorMittal Kryvyi Rih, where it owns 95.13 % of shares.
Source: ukraine.arcelormittal.com