At the “Italy Supports Made in Ukraine” business forum held in Rome on 20 November, Metinvest Group representatives pledged support for integrating Ukrainian and Italian businesses to ensure the sustainable development of the countries’ industries.
The forum focused on the current situation in metallurgy, energy and renewable energy, defence technology, agriculture and machinery manufacturing.
DTEK discussed international cooperation aimed at strengthening the countries’ energy security, as well as the revision of bilateral agreements that could optimise joint energy projects. Ukraine’s Ministry of Economy received confirmation of Italy’s commitment to working with the European Bank for Reconstruction and Development to provide EUR200 million to Ukrhydroenergo, Ukraine’s largest hydropower generating company.
Metinvest’s representatives participated in the “Metallurgy and Critical Materials” panel, alongside government and business representatives from Ukraine and Italy. Yulia SVYRYDENKO, a first deputy prime minister and the minister of economy of Ukraine, noted that metallurgy is a sector that unites the two countries.
She said: “The steel industry was developing dynamically before the full-scale invasion and arguably had the largest impact on Ukraine’s economy, contributing around 5.4% of the country’s GDP. The war has severely affected steel production, but the dedication and determination of Ukrainian steelmakers are driving a gradual recovery in production and growth in exports. Ukraine has the potential to replace russian metal on the EU market and strengthen European strategic autonomy. In cooperation with Italian manufacturers of equipment for green metallurgy, we must modernise and rebuild Ukrainian enterprises to new technological standards."
Dmytro NIKOLAYENKO, chief commercial officer at Metinvest, highlighted that the Group continues to maintain production despite Russia’s aggression against Ukraine.
He said: “Metinvest is committed to leading Europe’s transition to ‘green’ steel production. Our main initiatives include plans to modernise equipment at Northern Iron Ore to enhance quality and productivity, as well as the construction of a DRI/HBI facility with an annual capacity of 7.5 million tonnes. It will eventually transition from natural gas to hydrogen as part of our commitment to decarbonisation. We plan to invest in low-carbon, environmentally friendly production in Ukraine and Europe. We strive to build a reliable ‘steel’ bridge between the economies of Ukraine and the EU by integrating Ukraine’s metals sector with Europe’s.”
According to Dmytro Nikolayenko, these initiatives are aimed at producing 6.8 million tonnes of ‘green’ steel annually. This will make Metinvest a leading player in Europe’s sustainable steel production market and utilise 100% of the Group’s Ukrainian mining and processing plants in Kryvyi Rih, creating new jobs.
Luca VILLA, CEO of Metinvest Adria, mentioned Metinvest’s historical ties with the Italian market in his speech.
He said: “The construction of Metinvest’s new plant in Piombino secures the future. The Group can control the entire steel value chain, from mining in Ukraine to processing. The plant will purchase scrap on the open market for just one third of its needs. Its construction will create new employment opportunities in both countries, foster cooperation with educational platforms to train new generations of workers, and ensure environmentally sustainable production with minimal emissions.”
On 20 November, Metinvest, Italy’s Ministry of Enterprises and Made in Italy signed a historic declaration to promote the industrial revitalisation of Piombino by building a major ‘green’ steel plant with an annual capacity of 2.7 million tonnes. European financial institutions will provide funding for the project.
