DNIPROPETROVSK, Jan. 19 - Ukraine would need some UAH 26 bln ($5 bln), according to preliminary estimates, to renovate its steel industry and modernize roll production in order to lower energy consumption and introduce modern technology.

Vasyl Kharakhulakh, general director of the Dnipropetrovsk-based Metallurgprom association, said renovating steel sector would involve switching from open-hearth production to converter steel production.