ArcelorMittal Kryvyi Rih invests $325 mln during the war, again urges government to address high electricity prices
Since the start of the full-scale war, ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk region) has invested $325 million in production, Oleh Krykavsky, the company's Director for Government Relations, said at the "Ukrainian Export: Through Challenges to the EU" conference organized by Ukrayinska Pravda publication.
According to him, AMKR continues to operate under difficult conditions, as electricity prices in Ukraine are significantly higher than in Europe. Ukrainian enterprises buy electricity on the day-ahead market at high prices, while in many EU countries, long-term contracts and special government support programs for metallurgy help stimulate economic growth.
For example, France uses nuclear power mechanisms to lower electricity prices on the market, while Germany plans to allocate EUR 6.5 billion and introduce additional measures — including a price cap of EUR 60 per MWh (though the industry is calling for EUR 50). In contrast, prices in Ukraine continue to rise and have already reached $180 per MWh. Krykavskyi emphasized that the Ukrainian government must introduce similar mechanisms to preserve industrial potential and protect jobs.
"Despite the challenges, we continue to invest: during the full-scale invasion, our investments have exceeded $325 million. These funds went toward repairs, modernization, logistics, compliance with European standards, and preparation for future capital projects," Krykavsky said.
He added that AMKR's key priorities remain unchanged: integration with the EU, ongoing investment in development, and support for Ukrainian manufacturing even in the toughest times.
ArcelorMittal Kryvyi Rih is Ukraine's largest producer of rolled steel. The company specializes in long products, particularly rebar and wire rod. It has a full production cycle, with annual capacity exceeding 6 million tonnes of steel, 5 million tonnes of rolled products, and 5.5 million tonnes of pig iron.
