KIEV, Dec. 11 - Metinvest-Holding Ltd., a managing company belonging to the Metinvest group, is to spend $7.5 billion on the renovation and modernization of Azovstal steel mill and Yenakiyeve steel plant by 2017.

The plan for the group's strategic development until 2017 was passed by the supervisory council of Metinvest-Holding Ltd. in October, said Ihor Korytko, the director of the company's steel and rolled stock division, at a conference entitled the Day of Metinvest-Ukraine Company in Donetsk.