ArcelorMittal Kriviy Rih – transition without sustainability
Publisher: CEE Bankwatch Network
Volume: 3 pages, pdf
Description:
In April 2006 EBRD approved a loan for ArcelorMittal Kriviy Rih in Ukraine. The main purpose of the 200 million USD loan according to the EBRD was “to optimise the use of current production capacity, and increase the productivity and energy efficiency”1 . The project summary document states that: “The investment programme will significantly improve the current environmental and safety performance of the steel plant and mine operations”, “and shift the product portfolio towards higher value-added products” and underlines that “the planned modernization being undertaken is aimed at improving the environmental situation considerably” (our emphasis).