Yuriy Ryzhenkov, CEO of Metinvest, said that the group plans to start construction of a metallurgical plant with a capacity of 2.7 million tons of steel per year in the Italian city of Pembino.
The company expects that construction will begin by the end of this year or the beginning of next year. According to the plan, the plant should produce the first steel at the end of 2027.
According to Yuriy Ryzhenkov, this project serves two purposes. The first is a pilot for the future reconstruction of "Zaporizhstal" and "Kametstal". They want to run all technologies and logistics on it, so that the modernization of Ukrainian assets is as effective as possible. The second goal is to create additional demand for domestic GZK.
Total cost - €2.5 billion. Credit funds - at least 70%.
The head of the company added that "Metinvest" will implement the project in partnership with the Italian company Danieli on terms of 50:50. After the completion of the construction, Danieli will want to withdraw from the shareholders. "For Danieli, this project is a showroom. They want to show that they can build such high-tech plants," Ryzhenkov says.
