KIEV, July 25 - ArcelorMittal Kryvyi Rih, the country’s largest steel smelter, will invest $267 million in modernization of production in 2017, company CEO Paramjit Kahlon said.

"Over the past year ArcelorMittal Kryvyi Rih has produced 7.5 million tons of steel. I can say this company is the most stable for the last 4-5 years. The proximity to the Black Sea makes it unique in terms of a good geographical location. We have large investment plans in Ukraine as for modernization, because this enterprise has not received investments for many years," he said.