The key conditions for restoring Ukraine's industry were outlined by Dmytro Nikolaienko, commercial director of Metinvest Group, at the Ukraine Recovery Conference 2025, held in Rome.
Nikolayenko participated in the “Processing Industry: Revitalising and Modernising the Manufacturing Sector to Boost Industrial Competitiveness” panel. The discussion featured management from Italian international contractors, ANIMA, CNH in Italy, Africa and the Middle East, the International Chamber of Commerce, the “Prosperity for Eastern Europe” programme, the Organisation for Economic Co-operation and Development, Ukraine’s Ministry of Economy, the European Investment Bank team in Ukraine, KUKE, CORTEVA Agriscience and Biosphere Corporation.
Metinvest’s chief commercial officer said: “Different sectors of the economy are like bricks in the dome of Florence Cathedral: they support each other and create a stable structure. If even one is removed, the entire system could collapse. In this economic architecture, the steel industry is the main element, as it generates a synergistic effect of 4.5 times. Every dollar invested yields the same multiple for related industries. That is why it is very important to keep it alive, even despite the war and disrupted logistics.”
He added: “Metinvest considers Ukraine its home. The Group and all its employees feel responsible for protecting and reconstructing our home. These values come directly from the Group’s shareholder, Rinat Akhmetov. They are the foundation of our business.”
At the conference, Metinvest presented two recovery initiatives: an underground shelter made from steel produced at Zaporizhstal, which can serve to protect hospitals or educational space, and the “Steel Dream”, a modular solution for the rapid construction of housing and social infrastructure.
Nikolayenko noted that issues of security, guarantees and investment insurance remain the main obstacles to recovery. At the same time, he said, it is important that Metinvest has strong teams on the ground capable of delivering projects, which is particularly relevant under the current circumstances.
Meanwhile, he added that Ukraine is well positioned to transition to ‘green’ steel production thanks to magnetite ore, an ideal raw material for direct reduced iron (DRI) production, which is at the heart of decarbonised metallurgy.
Metinvest’s chief commercial officer said: “Yesterday, Metinvest signed a programme agreement with the Italian government for the construction of a 2.7-million-tonne rolling plant in the EU. This will serve as an example of ‘green’ steel production using Ukrainian raw materials.”
URC 2025 is the fourth international conference dedicated to Ukraine’s rapid recovery and long-term reconstruction. The event brought together representatives from governments, international organisations, financial institutions, large businesses, municipalities and civil society. Key topics include mobilising business for reconstruction, developing human capital, restoring communities and regions and pursuing European integration.
