The ArcelorMittal Kryvyi Rih Kryvyi Rih Mining and Metallurgical Combine will revise its investment plan for Ukraine, which provided for almost half a billion dollars in annual investments over the next five years, but intends to leave the financing of the Ukrainian plant at $250 million, AMKR CEO Mauro Longobardo said.
"We had a very appetizing investment plan - about 500 million dollars a year for the next five years. Now we are reviewing it, but we will have almost $250 million of capital investments left, and they have not stopped,” he said during the Global Outlook: Economic Frontline hosted by the EBA on Tuesday.
Longobardo noted that in connection with the blocking of the sea routes of Ukrainian exports by Russia, logistics remains the main challenge for the enterprise. At the same time, the AMKR paid all salaries in March, and in April and May it fully paid for the work of the employees involved and paid 65% of the salary to those who were not involved. However, there were no layoffs at the enterprise, Longobardo pointed out.
