Ildar Saleev, Metinvest Group’s Director for Strategy and Business Development, talked about the company’s transformation over the past 20 years, its contribution to Ukraine’s economy and its vision for the decades ahead at the UP 100 Business: 20 Years of Ekonomichna Pravda event.
The event brought together a forum of Ukrainian business leaders and an awards ceremony recognising 100 representatives of the private sector who continue to develop the country and strengthen the free market despite the challenges of war. Participants included prominent entrepreneurs, senior executives and public figures. Discussions focused on attracting investment during the full-scale war, expanding into new markets and the role of female leadership in business. Metinvest Group, which is also celebrating its 20th anniversary this year, was a partner in the event.
Saleev took part in a TED Talk discussion with Dmytro Denkov, Editor-in-Chief of Ekonomichna Pravda.
Looking Back
Over the past 20 years, Metinvest has evolved from a local producer into an international industrial group with operations in Ukraine, Bulgaria, Romania, Italy and the United Kingdom.
For 12 of those years, the company has operated under wartime conditions. Even during Russia’s full-scale invasion, despite losing part of its assets in the Donetsk region, Metinvest has remained one of Ukraine’s largest investors. Since 2022, the company has invested nearly UAH 40 billion.
Metinvest is also one of Ukraine’s largest exporters. In 2025, its export revenues exceeded UAH 150 billion. At the same time, the company has become a major supporter of the Armed Forces of Ukraine. Since 2022, UAH 7.3 billion has been allocated to support Ukraine’s defence efforts through Rinat Akhmetov’s Steel Front initiative.
“In Ukraine, the company has truly become one of the pillars of both the industrial sector and the national economy,” said Ildar SALEEV.
Looking Ahead
According to Saleev, in 20 years’ time Metinvest will be a steel company operating in Ukraine while also being a fully integrated part of the European steel industry. It will be a producer of green steel, having modernised its operations, transitioned to electric steelmaking and become fully integrated into global industrial value chains.
The company plans across multiple time horizons, both long- and short-term. “We look ahead simultaneously across several horizons: to 2040, to the coming decades, and to the next three months – focusing on how to get through them,” he said.
Following the end of the war, Metinvest will be open to partnerships that support business development over the next five to ten years. Investors are already showing interest in the steel industry, as it will play a key role in Ukraine’s post-war reconstruction.
“We are in discussions with strategic partners, including investment funds and major industry players. It is still too early to speak about specific agreements, as everyone is watching how the situation in Ukraine develops. However, the level of interest is significant. Partnerships are a way to grow our business both in Ukraine and internationally,” said Ildar Saleev.
The company believes that a strong industrial base, and the steel industry in particular, will strengthen Ukraine’s economy as it advances towards European integration.
“We are optimistic about Ukraine’s future as a full-fledged European country. Behind every strong nation stands a strong industrial sector. That is why we believe in Ukraine’s steel industry,” Saleev concluded.
