ArcelorMittal Kryvyi Rih halts operations until war ends, safeguarding plant for future restart

ArcelorMittal Kryvyi Rih, owned by Indian businessman Lakshmi Mittal, is halting operations until the war ends, transitioning into a technological shutdown that will take time. The closure stems from security risks and economic factors, including export impossibilities, high electricity prices, logistics issues, exhausted EU export quotas, and CBAM. The company reported 2025 revenue of 71.1 billion hryvnias and paid 8.5 billion hryvnias in taxes, employing approximately 17,000 workers. The plant has been a targeted strike victim, with five employees killed and others wounded in recent attacks. Management will focus on protecting infrastructure to resume production after peace is established, with workers potentially facing forced downtime at two-thirds salary.