ArcelorMittal Kryvyi Rih, the country's largest steelmaker accused of violating environmental standards, will invest $ 1.8 billion over the next five years to cut air pollution by 50-55 percent, the company said on Thursday.
The decision to invest in the modernization of the plant follows a meeting of company representatives with Volodymyr Zelenskyy, the new president of Ukraine and his officials, the report says.
Last month, the company said it would lose $ 1 million after a key piece of steelmaking equipment was seized during an investigation by the Ukrainian Security Service.
Acting plant manager Alexander Ivanov said the investigation began after Zelenskiy publicly criticized the pollution level in mid-July during a conversation with officials in his hometown of Krivoy Rog, where the plant is located.
The SBU has previously stated that it has found a radiation source exceeding safe levels in new plant equipment and has banned the company from using it.
However, the SBU claims that pressure on the company, which has invested more than $ 9 billion in the country's largest steel plant, was not the purpose of its investigation.
ArcelorMittal said Thursday that the company was “given the opportunity to continue with the investment project.”
"In particular, the commissioning works, which were stopped after the search by the SBU, resumed again," the message says.
It also states that the company will cooperate with the state in the construction of new roads and various social projects.
Ukrainian plant ArcelorMittal sold 4.5 million tons of steel products last year, according to the company's website.
