Metinvest to develop green metallurgy in Ukraine and Europe

Before the full-scale war, Metinvest produced about 14 million tons of steel. Now, due to the loss of enterprises, it produces about 5.5-6 million tons. However, the company intends to increase production and invest in green metallurgy in Ukraine and Europe.

This was stated by Metinvest CEO Yuriy Ryzhenkov, RBC-Ukraine reports citing Bloomberg TV.

“Metinvest has a fairly good resource base in Kryvyi Rih that can be improved to ensure green steel production in Europe. We are the largest source of clean raw materials for green steel production on the European continent. So our strategy is to develop green steel production in Ukraine,” Ryzhenkov said.

First of all, of course, it is necessary to wait until the military risks are significantly reduced so that the company can make significant investments in Ukraine, Ryzhenkov said. But the company has already prepared investment plans.

“We are considering the possibility of building or purchasing new green steel production facilities outside of Ukraine that will use Ukrainian raw materials. We plan to build one of these plants in Italy. But we are also open to other opportunities, including the acquisition of assets in neighboring countries,” the company's CEO said.

Author - Olena Madiak, 04/09/2024