Before the full-scale war, Metinvest produced around 14 million tons of steel. Due to the loss of facilities, production has now dropped to approximately 5.5-6 million tons. However, the company plans to ramp up production and invest in green metallurgy both in Ukraine and Europe.
This was revealed by Metinvest CEO Yuriy Ryzhenkov in an interview with Bloomberg TV.
“Metinvest has a strong resource base in Kryvyi Rih that can be enhanced to support green steel production in Europe. We are a major source of pure raw materials for producing green steel on the European continent. Our strategy is to develop green steel production in Ukraine,” Ryzhenkov stated.
He added that the company needs to wait until military risks significantly diminish before making substantial investments in Ukraine. However, the investment plans are already prepared.
“We are considering building or acquiring new green steel production facilities outside Ukraine that will use Ukrainian raw materials. One such plant is planned to be built in Italy. But we are also open to other opportunities, including acquiring assets in neighboring countries,” the CEO clarified.
Earlier, Metinvest was listed among the largest investors in Ukraine, with the company investing UAH 12 billion annually in investment projects within the country.
