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.
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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.