Ukraine’s European integration will help ensure the strategic autonomy of the EU’s metallurgical industry from Russia, enhancing security in the sector. This mutual interest offers countless opportunities for synergy between Ukraine and the EU, according to Olexander Vodoviz, Head of the CEO Office at Metinvest, as reported by the company’s press service.
“Why do Europeans want us? Because we provide them with security from Russia in the metallurgical sector. We are mutually interested in collaboration and see many opportunities for synergy. The EU’s support programs for Ukraine are excellent tools for restoring our industry. We want to be part of these programs and are ready to participate with eco-friendly and technological projects,” Vodoviz stated.
Before the war, Metinvest employed around 120,000 people, accounting for approximately 5% of Ukraine’s GDP. However, the full-scale invasion resulted in the loss of nearly 50% of its enterprises, including facilities in Mariupol and Avdiivka. Currently, Metinvest has about 60,000 employees, with nearly 9,000 serving in Ukraine’s Armed Forces and around 1,000 tragically killed. Many of its facilities are at risk of shelling, with some located just 10 kilometers from the front line.
Vodoviz emphasized the importance of Ukrainian enterprises entering the EU market during this critical period of resistance to Russian aggression.
“Ukraine has the largest resource base on the European continent, and we can offer Europe access to these resources. In return, we seek access to European technologies and financial systems to implement projects in Ukraine and the EU. But we don’t need free money – we are ready to compete. We are prepared to be part of Europe’s economic community and want this accession process to conclude as quickly as possible,” Vodoviz stressed.
The primary obstacle to Ukraine’s EU integration, according to Vodoviz, remains the ongoing war.
“We cannot ignore the war. However, our government has homework to do – to go through all the accession procedures to the European Union, including monitoring and implementing laws,” he added.
Vodoviz also noted that Metinvest is ready to invest in Europe and expand its market presence, including in steel production.
“We are negotiating with several European companies about entering Ukraine. Currently, we are in the process of merging with and acquiring certain European metallurgical assets, as we have a massive resource base and aim to use it effectively,” Vodoviz said.
The European Business Summit is the largest and most prestigious annual event organized by European Business Summits. It addresses complex European issues through panel discussions, exclusive interviews, and interactive debates featuring high-profile speakers. This year’s summit gathered approximately 120 speakers, including government representatives, members of the European Parliament, journalists, and business leaders from various sectors.
On November 20, Metinvest Group and Italy’s Ministry of Enterprises and Production signed a declaration to build a large green steel plant with a capacity of 2.7 million tons per year. The project will be financed with loans from European financial institutions.
