The “Metinvest” group has signed an agreement with the German Deutsche Bank for the opening of a credit line amounting to €23.6 million for a term of 11.5 years. These funds will be directed towards the modernization of the Northern Mining and Processing Plant operating in Kryvyi Rih.
This is reported by Finway
Key Aspects of Financing and Modernization
The loan is provided for the purchase of modern equipment from the Finnish manufacturer Metso Finland. The new technical equipment is necessary for the implementation of a project for thickening processing waste, which will enhance environmental sustainability and production efficiency at the enterprise.
“The agreement is an important milestone for the group and reflects our commitment to long-term investments in our Ukrainian enterprises. Despite ongoing security challenges, we strive to maintain and, where possible, increase production capacities and improve environmental sustainability,”
The Significance of Cooperation for the Bank and the Enterprise
Deutsche Bank emphasized the strategic importance of both “Metinvest” and Ukraine, highlighting its readiness to support companies that implement modern solutions in challenging geopolitical conditions. The cooperation demonstrates trust in the potential of the Ukrainian mining industry.
The Northern Mining and Processing Plant specializes in the extraction and processing of iron ore and is one of the largest enterprises in the region. Before the onset of the full-scale aggression by the Russian Federation, the plant produced 13 million tons of iron ore concentrate and 6 million tons of pellets annually. Last year, production volumes amounted to 8 million tons of concentrate and 4 million tons of pellets, indicating the enterprise’s adaptation to new realities and the preservation of a significant portion of its capacities.