Metinvest, the mining and metals group owned by businessman Rinat Akhmetov, has signed a new loan agreement with the Black Sea Trade and Development Bank, or BSTDB, for €20 million with a seven-year maturity. The funds will be used to implement projects aimed at strengthening the company’s energy resilience in Ukraine, developing its own electricity generation and modernizing production facilities.
The agreement was signed during the Ukraine Recovery Conference, URC 2026, held in Gdańsk, Poland. The signing was officially witnessed by Oleksii Sobolev, Minister of Economy, Environment and Agriculture of Ukraine.
The main part of the financing will be used to build Metinvest’s first solar power plants with a total installed capacity of 37 MW, as well as to support the group’s critical energy infrastructure. In addition, the loan will allow the company to continue implementing programmes to reduce the carbon footprint of its production and modernize industrial assets.
The company notes that cooperation with the Black Sea Trade and Development Bank has continued for several years. The partnership began in 2020 with the provision of investment financing and was expanded in 2024 through working capital loans.
Earlier, Metinvest Chief Operating Officer Oleksandr Myronenko said that in 2025–2026 the group plans to invest $18.1 million in the construction of solar power plants with a combined capacity of 37 MW at Central Mining and Processing Plant and Kamet Steel. The new BSTDB loan will become one of the sources of financing for this programme.
Despite its large-scale investment plans, the group’s financial results deteriorated in 2025. At the end of last year, Metinvest’s consolidated revenue decreased by 6% to $7.24 billion. The company attributed the decline to the shutdown of coal assets in Pokrovsk, as well as lower iron ore sales volumes and a decline in global iron ore prices.
EBITDA decreased by 24% to $765 million, while the EBITDA margin fell to approximately 18%. At the same time, operating profit reached $319 million, compared with an operating loss a year earlier, which the company said was largely due to a reduction in impairment losses on assets.
In addition to its Ukrainian enterprises, Metinvest continues to develop its international presence. The group currently owns five production assets abroad: a coal mine in the United States, two steel plants in Italy, as well as one industrial enterprise each in the United Kingdom and Bulgaria.
