23
Jul
16:13
Metinvest secures funds for mill-1700 upgrade
Steelmaker and miner Metinvest has secured a buyer credit facility worth €34.4 million ($38.4m) to be used to fund the modernisation and expansion of hot strip mill-1700 at its Mariupol-based Ilyich steelworks.
The large-scale reconstruction of the mill began in 2017 when Metinvest contracted Primetals Technologies to supply and build the mill, estimated to cost around $110m at its current stage. It is due for commissioning in 2020. The project will al…
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