December 22, 2017 / 2:41 PM / a year ago

EBRD loans $350 million to ArcelorMittal's Ukraine mill

FILE PHOTO: A logo is seen on the roof of the ArcelorMittal steelworks headquarters in Ostrava, Czech Republic, April 1, 2016. REUTERS/David W Cerny/File Photo

KIEV (Reuters) - The European Bank for Reconstruction and Development (EBRD) has extended a $350 million loan to Ukraine’s largest steel mill, owned by ArcelorMittal (MT.AS), for modernisation and environmental upgrades.

The EBRD said the loan would help finance investment worth $1.1 billion at the mill, which ArcelorMittal acquired in 2015.

“It is the largest private sector investment programme in Ukraine in recent years,” the bank said.

Reporting by Alessandra Prentice; Editing by Keith Weir

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