Given Ukraine’s desire to speed up its accession to the EU, the group needs to speed up the transition to new, stricter environmental standards, its leader said.
The Metinvest group of companies is working on a new environmental policy plan and implementing projects to reduce emissions at metallurgical plants. This was stated by the general director of the group, Yuri Ryzhenkov.
“Metinvest is not only a Ukrainian, but a European company. We must meet all the requirements, which are quite strict. Now Ukraine seeks to accelerate its accession to the EU, which means that our business is need to make a transition to new standards faster than expected”, – he said.
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The head of Metinvest emphasized that the company is currently focused on converting businesses to high-quality iron ore for direct reduced iron (DRI) technology, which is critical for sustainable steel production in Europe.
“This is of particular importance, because we do not have enough secondary raw materials for electric arc furnaces. And this is a global issue for Ukrainian metallurgy, which for the “green transition” is strategically important to maintain as much as secondary raw material as possible domestically – scrap metal,” explained Ryzhenkov.
He added that Metinvest’s plans also include designing facilities for the production of direct reduced iron – DRI pellets and hot briquetted iron (HBI) in the Krivoy Rog region. In addition, the company is working on projects at its steel mills to reduce carbon emissions in the short and medium term.
“This involves phasing out blast furnaces and their replacement with electric arc furnaces. This will reduce CO2 emissions to a level that is considered the standard for sustainable steel production in Europe,” concluded Ryzhenkov.
Let’s recall that last summer it was reported that the Metinvest group joined the government’s platform for the restoration of domestic metallurgy using “green” technologies. The signing of a memorandum of partnership took place at a conference on the restoration of Ukraine held in London. According to the conference participants, the cost of the medium-term green transition strategy in 2035 will be approximately $35 billion. Such investments will ensure the production of up to 15 million tons of green steel per year.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.