You're reading: Steel Guru: Ukrainian steel industry is turning into scrap

It is reported that the basis of Ukrainian economy is mining and metals industry now gradually loses its value.

Investments into modernization of Ukrainian production facilities in mining and metallurgical industry during the first half of 2010 were $193 million. In 2009 it was $646 million. But the actual annual requirement in investments is at least $1.8 billion. Totally to complete modernization of mining and metallurgical industry in Ukraine it is needed at least $16 billion. Read the story here.