Donetsk, Jul 31 — DAN. The South Mining and Metallurgical Complex (YuGMK) will implement a four-billion-ruble investment project in the Donetsk People’s Republic free economic zone, DPR Prime Minister Yevgeny Solntsev said on Monday.

“An agreement on YuGMK Donetsk operations in the FEZ has been signed today; it envisions modernization of metallurgical companies; the investments are worth four billion rubles, ” Solntsev wrote on Telegram. 

The project to increase cast iron and molten steel production will help create more than 200 new jobs, he said.

Earlier reports said that ten DPR investors had applied for participation in the free economic zone. “Sputnik” is the first registered resident which will produce trams, trolleybuses and electric buses using the facilities of the Donetsk Energy Plant.

The YuGMK was established in the autumn of 2021. It comprises eight companies based in the Donetsk and Lugansk People’s Republics.*jk