In November 2000, a complete refurbishment and modernization of the main facilities in the Hot Strip Mill were carried out. A new coiler was put on stream in Mill. The equipment, supplied by the Russian company NKMZ, improved substantially the HR coils quality and boosted the mill's performance. The new coiler contributed towards enlarging the existing product range. Also, the third reheating furnace was completely refurbished and modernized. The investment improved the productivity and decreased the energy consumption of the furnace. Natural gas consumption decreased by more than 20 %, while the process of slabs delivery to the reheating furnace and 1700 HSM became much smoother. In September 2000, the centralized trade base of Kremikovtzi Trade Ltd., a subsidiary, wholly owned by Kremikovtzi Corp., was launched. Since it started to operate, the company's deliveries to the domestic market became more channeled. Customers do not enter the plant to load products, but get them from the storehouse.

The availability of bank offices in the trade base's premises and of the customs, located within a stretch, facilitate traders in their operations. In November 2000, for the first time it was made possible bid vessels to be relieved in open sea. This was achieved thanks to the barge " Bulk Kremi 1 " - a joint investment of Kremikovtzi Corp. and Coeclerichi Logistics. This enabled raw materials supplies to be delivered via larger ships, which decreased immensely the transportation costs. The economic effect of that investment is estimated at $ 5m per annum. On November 5, 2001, following a major repair, refurbishment and modernization, the ASEA - SKF ladle furnace was put in operation. The ladle furnace enables the manufacturing of all types of special steels, such as high - alloyed , stainless, steel for the automotive industry. In so doing, the company will find a new market niche for its product mix.

In November 2002, a major repair and reconstruction of the sintering machine N4 was made. As a result, its productivity increased, while ensuring smoothness in the supply of input materials. In addition, the sinter quality improved, and the natural gas consumption decreased. The investment had a substantial impact on the environment - the emission of iron - containing dust in the atmosphere was considerably reduced. The reconstruction, modernization and automation of Blast Furnace N1 is one of the most important investments undertaken so far. In fact, this is a brand new furnace at an up-to-date technological level. With its putting into operation, new quantitative and qualitative dimensions are introduced in the production of iron and steel at Kremikovtzi Corp.. Equipment and technical assistance from such companies as Siemens, ABB, Kutner, Vitkovice was used. During its operation, the blast furnace will be in full compliance with the European environmental protection standards. In November, 2002 the technological electro - filter No 5 at the Sinter Plant will become operational. It will clean gases and dust emissions, which will make the operation of sintering machines in full compliance with the current European environmental standards. The equipment and technical assistance have been provided by the Danish company FLS Miljo. The project is financed by DEPA. The Company has an ambitious capital expenditure programme aimed at improving the quality of steel products, expanding the product range and reducing operating costs.

The continuous steel casting line is at an advanced stage of completion, with the ongoing active participation of Voest Alpine Industrianlagenbau, the automation and modernization of the Hot Strip Mill is carried out by General Electric, and major reconstruction and modernization of the 5-stand cold rolling mill is currently under way. Along with the above - mentioned CapEx projects, the Company is executing two basic environmental programmes. One is associated with the removal of past contaminations, and the other is aimed at bringing the company's activities in compliance with the current environmental standards. The refurbished technological electro - filter in the Sinter Plant is to be put on stream soon. A major project is currently under way to process technological waste in the vicinity of Kremikovtzi Corp. and to reclaim the contaminated land.