Ukrainian Metinvest – a group of steel and mining firms – is set to build one of the most modern green steel mills in Europe in Italy. The plant, which will produce eco-friendly steel, is expected to have an output capacity of 2.7 million tons annually.
The manufacturing facility that Metinvest will construct will utilize technologies based on electric arc furnaces and recycled materials, including scrap, pig iron, and directly reduced iron sourced from Ukraine.
The investment will be based on the historic declaration of cooperation signed on 20th November, between Metinvest Group and the Italian Ministry of Enterprise and “Made in Italy”. The memorandum was signed in Rome during the meeting of Italian and Ukrainian governments.
The Italian export credit agency SACE, along with leading banking institutions, including Cassa Depositi e Prestiti, have expressed an interest in financially supporting the manufacturing facility in Piombino, which is expected to reach a value of 2.5 billion EUR.
“This agreement is an important step towards creating one of the most sustainable steel mills in Europe. The project will strengthen the Italian steel industry and Ukrainian mining operations, demonstrating the potential of international cooperation in promoting sustainable industrial development,” said Yuriy Ryzhenkov, director general of Metinvest Group.
The signing of the program agreement is expected at the beginning of 2025. The document will define specific actions, including land reclamation concessions, development agreements through Invitalia, the national agency for foreign investment and economic development, initiatives for employment protection, renewable energy, and port infrastructure improvements.
Source: https://managerplus.pl/metinvest-buduje-we-wloszech-nowoczesna-zielona-hute-stali-za-25-mld-eur-55890
