During the war, the group’s investment strategy focused on maintaining the properties’ performance: more than $300 million was allocated annually for this.
The Metinvest group of companies is included in the ranking of the 20+5 largest investors in the country, compiled by Forbes Ukraine magazine. The company’s press service reported this on Friday, May 10.
According to the rating, Metinvest “with almost a billion capital investments during the war years” took second place – after DTEK, another company of Rinat Akhmetov.
“Metinvest would be the champion by a wide margin if the publication compiled this list in 2021. That year was a record success for Rinat Akhmetov’s metallurgical business, and $1.3 billion in capital investments reflected the ambition of Metinvest The war caused direct damage to the company of $3.5 billion : the largest iron and steel plant Azovstal and MMK named after Ilyich were destroyed, “the Metinvest press service quoted the authors of the rating.
According to Metinvest, the group’s investment strategy is focused on maintaining the performance of assets.
“More than $300 million is allocated for it annually during the war – $659 million The group is also working on the preparatory stages of major strategic projects: for 2024 the planned volume of capital investments is at the level of last year – about $319. million,” the statement said.
The holding added that last year’s main investment projects included the launch of new longwalls at Pokrovsk Coal Group enterprises, the modernization and repair of rooms at Kametstal and Zaporizhstal, as well as energy projects.
We would like to remind you that it was previously reported that nine enterprises of the Metinvest group were included in the rating of the best companies in Ukraine.
Source: korrespondent
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