A joint venture to produce green
steel in Italy, in collaboration with the Danieli group, was
announced today by Metinvest. Environmental and economic surveys
are underway to identify a suitable site for the forthcoming
plant.
The total capex (capital expenditure) of the investment - a
statement reads - is preliminarily estimated at over 2 billion
euros, and international financial institutions and European
state and private banks will support the financing.
The joint venture represents "an important step in
Metinvest's green transition. In addition to the environmental
modernization of Ukrainian steel mills and the increase in the
production of DRI pellets in Kryvyi Rih, the new Italian site
will play a significant role in the environmental transformation
of the group, Ukraine, and the EU".
The new plant will be based on the Electric Arc Furnace (EAF)
and advanced sustainable steelmaking technologies supplied by
the Danieli Group. The raw materials, including DRI pellets,
will come from Metinvest's iron ore mining sites in Kryvyi Rih.
"The venture - the statement reports - will create thousands
of jobs in Ukraine and Italy and will help restore the
previously high levels of utilization of the group's iron ore
mining sites. The latter sites are operating at reduced capacity
due to the blockade of Ukrainian ports and the loss of
operational control over Metinvest's Mariupol plants".
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