The subject of this study is the economic relations arising in the process of formation and management of the investment portfolio at the metallurgical enterprise. The high importance of investment projects for business should be recognized by the company’s management, as a result, the investment process should always be in the focus of management’s attention: it is necessary to develop a strategy for long-term development; assess the economic feasibility of projects; have a modern methodology of project management; select competent personnel to participate in project activities; constantly monitor the effectiveness of project activities and promptly make the necessary changes. Investment activity of the industrial enterprise is carried out by means of implementation of the investment projects consisting in technical re-equipment, modernization of production, radiation of economic and social effect.