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The funds were also invested for the development of railway tracks.
In 2018, the Ferrexpo group invested over UAH 3.5 billion (more than USD 130 million) into the development of the Poltava, Yeristovo and Belanovo mining and processing plants. The centre of transport strategies reports about it with reference to data of the company.
According to the investment program approved by the Board of Directors, within the period from January till December last year, Ferrexpo Group invested more than UAH 2.414 billion (more than USD 90 million) in support of the deposits and development of Poltava mining plant, and more than UAH 1.073 billion (more than USD 40 million) for the development of the Eristovo and Belanovo plants.
The main capital investments of Poltava mining plant were the expenses for current production support in the amount of over UAH 806 million and large strategic projects in the amount of over UAH 914 million; the components worth over UAH 694 million.
Funds of Yeristovo and Belanovo plants were invested in processing, development of railway tracks and objects, in projects for capital quarry and infrastructure construction, geological and other works.
In 2018, the company produced 10.6 million tons of iron ore pellets. The main consumers of products are steel enterprises from Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam, as well as the USA.
Earlier, the Centre of Transport Strategies stated that in December 2018, Ferrexpo purchased 50 railway wagons. A part of the Ferrexpo group, Yeristovo Mining ordered 200 open wagons,t from the Kryukovsky Car Builging Works. According to the contract, the delivery of part of the cars took place in December 2018 - February 2019. The report indicates that as of December 31, 2018 Ferrexpo owned 2,225 wagons. Since then, 153 more freight cars have been received. Thus, as of February 28, 2019, the Ferrexpo car fleet is 2,405 wagons. "This should ensure smoothly functioning constant transportation of ore during the grain harvest in Ukraine," the company state in the report.
Source cfts.org.ua