We are talking about long-term projects in Ukraine, the implementation of which will take more than five years.
Metinvest Group, even before the massive war, developed a strategy for the transition to the production of “green” steel and is ready to invest $2.6 billion in projects, but now there are questions about financing and guarantees that hard to come by in Ukraine today. This was said by the company’s commercial director Dmitry Nikolaenko, Interfax-Ukraine reports.
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“We at Metinvest developed a strategy for the transition to green steel even before the war with the support of McKinsey. It involved the transfer of blast furnaces at DRI to our steel mills,” he said.
According to Nikolaenko, there are now two biggest problems in the world in the transformation of green steel. The first is the availability of green energy, and the second is the availability of a source of basic steel produced in an environmentally friendly way with the lowest possible carbon emissions.
“In the same direction, Ukraine can be a very good partner in the European chain of this innovation: we have a source of iron ore that can be very well enriched – up to 70% or more Fe DRI class pellets,” the top noted – manager.
He said that Metinvest has projects for the transformation and reconstruction of facilities at the Northern Mining and Processing Plant: a concentrate enrichment project, as well as the construction of two fencing machines for the production of DRI pellets with a capacity of up to 12 million tons. Every year. These two projects will require an investment of $2.6 billion, which can be implemented in phases.
In addition, there is a project for the construction of three production facilities with a capacity of up to 5.6 million tons of DRI-HBI (environmental direct reduced iron briquette), and it will require an investment of about $2 billion. There are customers for such products not only in Europe, but also in Ukraine, Nikolaenko emphasizes.
“Metinvest is ready to implement these projects But the biggest question is funding and guarantees, which are difficult to get in the current situation in Ukraine These projects are long-term: their implementation will take more than five years, and the preparation and The design phase will take the largest part of this time – more than a year,” emphasized Nikolaenko.
We remind you that the Metinvest investment program for 5-10 years provides an investment of $9 billion in the “green” transformation of metallurgical enterprises.
Metinvest also spoke about the use of artificial intelligence (AI) in green metallurgy. Ukrainian specialists, using augmented reality, performed maintenance twice as fast as most competitors in neighboring countries.
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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.