HomeEconomyMetinvest announced plans to...

Metinvest announced plans to invest $9 billion in green innovation

Photo: Met_invest

In the near future, the company plans to start building a rolling mill in Italy, which it calls “a pilot project for the reconstruction of Zaporizhstal.”

Metinvest’s investment program for 5-10 years involves investing $9 billion in the “green” transformation of metallurgical enterprises. The general director of the company, Yuri Ryzhenkov, announced this in an interview.

According to him, the company plans to rebuild factories in Ukraine for the production of low-carbon steel, including the construction of electric melting furnaces in Zaporozhye instead of open hearth, modernizing Kametstal and MMK. Ilyich, but the war interrupted the plans.

“The war adjusted these plans, but in general they did not change. We estimated the modernization of Zaporizhstal at about $2 billion. However, “green” metallurgy requires a lot of scrap metal or high-quality DR pellets , so at the same time we will need to modernize our mining and processing plants to produce quality pellets. If we add up the investments in the green transformation of our Ukrainian assets – GOK, Kametstal and Zaporizhstal, the total amount will be about $9 billion. It can be done, and we plan to do it after the war. This is an investment program for 5-10 years,” he said.

Ryzhenkov added that in the near future the company intends to start building a rolling mill in Italy with a capacity of 3 million tons per year, which it calls “a pilot project for the reconstruction of Zaporizhstal.” They plan to raise money for the project mainly through grants and debt capital with the support of the Italian government.

“This plant will be able to increase the workload of our mining and processing plants in Ukraine and stimulate their modernization for the production of high-quality pellets. There is also not enough scrap metal in the EU to supply all the modernized metallurgical plant, “said the head of Metinvest.

Let’s recall that in October of this year, in one of his interviews, Ryzhenkov said that the Metinvest group of companies is working on a new environmental policy plan and implementing projects to reduce emissions in metallurgical industries that plant.

In the summer it became known that the group joined the government’s platform for the restoration of domestic metallurgy using “green” technologies.

New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The DPRK was promised by the “unclear” Poddjakke of Russia in the war against Ukraine

Russian military criminal, secretary of the Russian Council Sergey Shayga, visited Phogyan, where he met with Kim Jong. He promised him that the DPRK would support Russia, in particular, in the war against Ukraine. The parties discussed a joint operation in the Kursk...

In Pryluky, RF Postal House -Topl in the leader of the leader

In Pryluky, a hostile drone hit the house of the head of the local fire department. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } His family was killed: his wife,...

Russians were pushed to Constant and could be shot by a garden from artillery

The Russians have advanced towards Konstantinovka and are already shooting from artillery Ukrainian positions near the city. This is indicated in the report of the Institute of Military Research (ISW). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...