On 19 February 2025, Metinvest and Danieli took part in the signing of a shareholder agreement at the Italian Ministry of Enterprises and Made in Italy in Rome that governs their joint partnership in Metinvest Adria S.p.A. This agreement is an important component of the project to construct a modern steel plant in Piombino, Italy. It formalises the main agreements between Metinvest and Danieli regarding joint management, decision-making and financing that will facilitate the construction of the new plant. The facility is set to become a steel bridge connecting the metallurgical industries of the two countries — Ukraine and Italy.
Adolfo Urso, Minister of Enterprise and Made in Italy, stated: “Once again, we have honored our commitments. The signing of the shareholders’ agreement marks a pivotal step in the relaunch of the Piombino steel hub, placing green technology at the forefront of Europe. It also strengthens the strategic cooperation between Italy and Ukraine, building a solid bridge between our metallurgical industries, which is crucial for Ukraine's reconstruction.”
The signing of the shareholder agreement represents a significant milestone in deepening strategic cooperation between the two parties. It ensures the balanced and effective management of Metinvest Adria S.p.A., focusing on the execution of the project and the long-term strategic objectives of both groups. The agreement is set to take full effect in the second half of 2025, pending the completion of all preconditions, including securing the necessary regulatory approvals.
Yuriy Ryzhenkov, CEO of Metinvest, commented during the signing: “Given the global instability and the ongoing war in Ukraine, this agreement is a crucial step toward ensuring the sustainable development of both Ukrainian and Italian metallurgical industries. This is our opportunity to unite and accelerate Ukraine’s integration into the EU. It represents a chance to establish a sector that can lay the foundation for both Europe’s future and Ukraine’s reconstruction after the war.”
Metinvest Adria will serve as the project company for the joint development and operation of an environmentally sustainable steel rolling plant in Piombino, Tuscany (Province of Livorno), Italy. This plant will be essential in modernizing and increasing steel production in the region. It will employ electric arc furnace technology and utilize recycled materials, including scrap, pig iron, and direct reduced iron, some of which will be sourced from Metinvest’s Ukrainian operations.
Alongside the shareholder agreement, a contract was signed between Metinvest Adria and Danieli for the development of basic engineering for the new steel plant in Piombino. This plant is poised to become one of the most technologically advanced green steel production facilities in the world. The Metinvest Adria project is also intended to serve as a model for the future modernization of Metinvest’s steelmaking facilities in Ukraine.
Giacomo Mareschi Danieli, CEO of Danieli Group, said: “This project is not only an investment in innovation and competitiveness but also a bridge between the Italian and Ukrainian steel industries. Danieli is committed to developing technological solutions that can transform the future of steel, and the partnership with Metinvest is a prime example of how international collaboration can generate value for the entire sector. This plant will be a symbol of industrial progress and a key component in the modernization of steel production in Italy and Europe.”
The contract encompasses basic engineering for electric arc furnaces, steelmaking, casting, and rolling using the Danieli QSP-DUE module. It also includes the development of a cold steel processing and service center, along with auxiliary facilities and equipment. The advanced technologies will ensure the plant's high productivity and environmental sustainability.
To recap, on November 20, 2024, Metinvest and Danieli signed a declaration to build a large green steel plant during a meeting of the Italian and Ukrainian governments in Rome. The project aims to create a steel plant with an annual production capacity of 2.7 million tonnes. The construction will be financed mainly through funds raised from international financial and credit institutions, alongside the shareholders’ own capital.
