KYIV, Jan 30 – ArcelorMittal Kryvyi Rih, the biggest mining and steel plant in Ukraine, invested $415.4 million in the development of production in 2019, which was 6.2% less compared with 2018 ($433 million).

The company said in a press release on Thursday that of these, operating costs amounted to $116 million, and capital – to $299.4 million.

"2019 was a difficult year for all plants of mining and steel complex of Ukraine, while the second half of the year was more difficult than the first one. It was increasingly difficult for Ukrainian exporters to sell their steel products due to a significant drop of prices and general decrease in steel consumption on the world markets. Along with rising costs, this negatively impacted on the financial condition of the steel companies and led to decrease in production. Nevertheless, ArcelorMittal Kryvyi Rih has managed to maintain fairly high rate of investments and continued the implementation of the strategic projects," the company said.