Ukraine urgently needs a clear plan for sustainable integration into the EU
ArcelorMittal Kryvyi Rih hopes to return to pre-war investment plans of $500 million per year after the war. With the cumulative effect, this will increase the capabilities of Ukrainian businesses and contribute to attracting foreign investment to Ukraine.
This was shared by the CEO of PJSC ArcelorMittal Kryvyi Rih, Mauro Longobardo, during his speech at the Business Wisdom Summit 2025.
"Before the war, our company planned to invest about $500 million annually in production development, and we hope to return to this volume after the war. In addition, this will create opportunities not only for the existing Ukrainian businesses but also for attracting significant investments to Ukraine and increasing the overall level of economic development in the country," emphasized Mauro Longobardo.
In his opinion, one of the main current challenges at the country level is the need to create a clear plan for sustainable integration into the EU.
"We need a very concrete plan for how we will integrate into the European Union by the end of the war and after it. This transition in the coming years will be crucial to create a sustainable economy for the future," the top manager stated in his speech.
According to him, the products of ArcelorMittal Kryvyi Rih are largely exported, so the price of the products is determined by the global market. Currently, the company's operations are additionally heavily dependent on the prices of electricity, gas, and coking coal. Due to the increase in their prices, the production cost is rising, leading to a loss of competitiveness and the ability to produce pre-war volumes without losses. At the same time, the enterprise is limited in its ability to pass the increased production cost onto end consumers due to the potential loss of competitiveness.
In these conditions, the company is doing everything possible and maintaining a certain production volume with the help of the parent company.
"Since the beginning of the war, our parent company, ArcelorMittal, has allocated $1 billion to 'ArcelorMittal Kryvyi Rih' to help us survive. On our part, we are making every necessary effort. We are holding strong now!" summarized Mauro Longobardo.
Despite the difficulties, the company continues to develop. In early April, the operation of blast furnace No. 6 was resumed, which had been mothballed in the fall of 2024 due to the market crisis and high electricity tariffs. The unit is now reaching its planned output of 3,400 tons of pig iron per day. Also, ArcelorMittal Kryvyi Rih will increase employee salaries by an average of 15% starting from May 1, 2025.
It is worth noting that in 2024, the company was able to increase production across all product types compared to 2023. Specifically, pig iron output rose by 42.7% year-on-year to 2.17 million tons, while steel production increased by 69.9% year-on-year to 1.65 million tons. The output of rolled products amounted to 1.53 million tons, which is 72.1% higher year-on-year.
ArcelorMittal Kryvyi Rih is a full-cycle steel enterprise in Ukraine. Its production capacity is designed for the annual production of over 6 million tons of steel, 5 million tons of rolled products, and 5.5 million tons of pig iron. The enterprise provides more than 20,000 jobs.
