Breaking News 9/5/2023 Read 4 min

SCM boosts investments in Ukraine


In the first six months of 2023, Rinat Akhmetov's SCM directed nearly UAH12.7 billion towards capital investments and modernization efforts in Ukraine. This marks a nearly 25% increase compared to 2022.

These investments have been channeled into various key areas. 

To secure Ukraine's energy independence, the first phase of one of Eastern Europe's most powerful wind energy stations, Tyligulska Wind Farm, commenced operations in May. Extensive geological surveys, construction, and drilling activities have also been conducted in natural gas fields.

To ensure a stable transition through the winter period, damaged electric networks have been modernized and repaired, and the energy blocks of thermal power stations, along with their components, have undergone comprehensive renovations. Modern purification equipment has been installed, and significant upgrades have been made to mining operations.

Metinvest Group has focused its capital investments on restoring and advancing critical facilities for Ukraine's metallurgical industry. Repairs to blast furnaces at "Zaporizhstal" and "Kametstal", the restoration of equipment at Kryvyi Rih Ore Mining and Processing Plants (GZK), and most importantly – continued development of production infrastructure and commencing new coal mining longwalls at "Pokrovskevuhillya". Thanks to these efforts, this company, located in Donetsk Oblast near the front line, has managed to return to pre-war levels of coal production.

In total, during the first six months of 2023, Ukrainian, associated, and joint enterprises within the SCM investment group contributed UAH29.3 billion in taxes and fees to budgets at all levels. Of this sum, UAH24.3 billion was transferred to the state budget. Contributions to local budgets amounted to nearly UAH5 billion.

Approximately UAH4.3 billion has been allocated for social programs. The most significant expenditures have been on programs benefiting residents in the regions of presence of SCM businesses, workplace safety measures, and environmental protection.

In addition to that, SCM businesses, Rinat Akhmetov Foundation, and Shakhtar Football Club are continuing  to support Ukraine and its people during these challenging times. Since February 24, 2023, they have directed a total of UAH6 billion as aid for both the military and civilians. Rinat Akhmetov has also allocated UAH1 billion for the "Heart of Azovstal" project, which provides assistance to Mariupol defenders and their families.
For more information on the Rinat Akhmetov Foundation's humanitarian aid, please visit
Details about the "Steel Front Rinat Akhmetov" initiative can be found at 
For a deeper insight into "Heart of Azovstal," visit