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Austrians May Build Metallurgical Plant In Ukraine

June 27, 2008

By the end of 2008, the Austrian steelmaking concern Voestalpine AG will make a final decision concerning the site for construction of a new metallurgical plant. At the current stage, the company’s experts are studying the opportunities for the construction in Romania, Bulgaria, Turkey and Ukraine.

As Deutsche Welle has reported, Peter Schiefer, the representative of the Austrian corporation, said Voestalp³ne AG is ready to invest more than EUR 5 billion in the new project. The main criteria for selecting the site for the new metallurgical plant are the availability of the free access to the sea and of the relevant infrastructure and suppliers of raw materials.

In this context, Odesa region appears especially attractive, though the other candidates from the Black Sea region are also viewed as prospective. The company, therefore, has not yet determined the favourite.

The main rival of the Odesa region, in the opinion of the financial observers, is Romania’s Constanta. In addition, Romania’s EU membership ensures a more reliable protection of large investments. P. Schiefer said the corporation’s experts constantly keep in touch with the Ukrainian state authorities and expect to approve the final decision as early as by the end of 2008.

The company plans to employ more than 5,000 people at the new plant, and promises to keep to the highest quality and environmental protection standards.

Tags: metallurgy