KIEV, July 31 – Metinvest Holding, Ukraine’s largest mining and steel group, on Tuesday commissioned a new $140 million blast furnace at one of its facilities in Yenakiyevo, part of a $1 billion modernization program.

The new furnace will help the company to reduce consumption of natural gas, underscoring the modernization that has taken place across the industry following the almost tripling of gas prices over the past two years.