KYIV, May 24 – Ukraine’s largest steelmaker ArcelorMittal Kryvyi Rih has agreed to increase wages paid to its workers by more than a third to avert a potential strike at the company.

Paramjit Kahlon, the company’s CEO, has decided to increase the payroll at the enterprise by UAH 1.1 billion from the approved level of some UAH 3 billion effective from May 1, the company reported. Further wage hikes may come in October if the company accelerates output.