KYIV, July 21 – ArcelorMittal Kryvyi Rih, a major Ukrainian steel producer, plans to spend $700 million in the next three to four years on large investment projects, CEO of the company Mauro Longobardo said.

"In the next three to four years, we are going to allocate $700 million to implement large investment projects, each of which has an environmental component, and allows gradually abandoning outdated technologies. This year we've finally decommissioned the open-hearth shop, as well as the first blooming section,” Longobardo said.