Despite the incredible efforts of the Defense Forces, military risks to the economy and metallurgy of Ukraine are increasing. Multi-billion long-term investments in Ukraine are not yet possible. Therefore, Rinat Akhmetov’s Metinvest company began building new bridges that will improve Ukraine’s ties with the European Union. One of these bridges is a metallurgical plant that the company is building in Italy together with sponsors and with the support of the Italian government, write NV and The Economist.
" These enterprises received semi-finished products produced in Ukraine from Ukrainian raw materials, but full-scale Russian aggression interrupted this connection. Metinvest lost the Ilyich and Azovstal iron and steel plants, where they produced high-quality slabs and processed Krivoy Rog iron ore. Therefore, Metinvest has created a new link that will unite the economies of Ukraine and Europe, and will increase the production and export of Ukrainian products,” the publication writes..
The company has already secured the support of powerful partners with whom it will build a green metallurgy enterprise in Italy. The Italian state credit and export agency SACE and leading banks, in particular Cassa Depositi e Prestiti, have officially expressed interest in providing financial support. The project envisages the creation of a modern plant for the production of green steel with a capacity of 2.7 million tons per year. The enterprise will use electric arc furnaces, the raw material for which will be pellets supplied from the Group’s mining and processing plant in Krivoy Rog.
“This agreement is an important step towards creating one of the most sustainable steel plants in Europe. The project will help strengthen the Italian metallurgical industry and the Ukrainian mining industry, demonstrating the potential of international cooperation in promoting sustainable industrial development,” says Yuriy Ryzhenkov, CEO of Metinvest Group..
Creating a full-cycle metallurgical enterprise requires huge investments, which are currently impossible to attract to Ukraine, and Metinvest has focused on finding partners in the EU who will help attract the necessary credit funds, technologies and other resources.
\? Yes, because our country has all the necessary resources: from iron ore deposits to energy and transport infrastructure. The Metinvest group has been developing a green metallurgy project for many years, which can be implemented at industrial sites in Zaporozhye, Krivoy Rog, Kamensky. But this is possible only after the onset of full peace, the cessation of shelling of Ukrainian cities by Russians and the resumption of energy,” the publication notes..
A new metallurgical plant in the EU, owned by a Ukrainian company, will increase the production of high-quality iron ore products, save thousands of jobs and ensure the payment of taxes in Ukraine.
The Ukrainian economy will receive an additional impetus for development even during a time of full-scale Russian aggression, and will strengthen partnerships and ties with the European Union, which will benefit from cooperation with Ukraine, the publication summarizes.
We would like to remind you that since February 24, 2022, Metinvest, including joint ventures, has spent more than UAH 30 billion on capital investments in Ukraine. - this is the second indicator in the state. In addition, the company has already allocated more than UAH 8 billion to help Ukraine and its citizens.. Of these, 4.4 billion UAH are funds for the needs of the army within the framework of the military initiative "