KIEV, Jan. 11 ??“ Alchevsk Steel Mill, Ukraine??™s No. 5 steel producer, on Thursday pledged to complete a $2 billion investment program within the next three years as the company re-equips itself for saving energy costs.

The program may be a showcase of modernization for the country??™s steel sector, the backbone of Ukraine??™s economy, helping to reduce dependence on energy imports, President Viktor Yushchenko said.