MOSCOW, February 27. /TASS/. ArcelorMittal Kryvyi Rih, the largest steel mill in Ukraine and in Europe, will shut down its foundry and mechanical production facility, the press service of the mill said.

"The decision to stop operations of the Foundry and Mechanical Plant, the subsidiary of ArcelorMittal Kryvyi Rih, will come into force in three months from the announcement date," the press service said.

The exorbitant price of electricity in Ukraine is the cause of halting production, the company added.