Metinvest is considering building a new plant in Italy

Metinvest Group is considering building a new plant in Italy. This was stated by Yuriy Ryzhenkov, CEO of the mining and metals group, in an interview with FAQ talks.

Yuriy Ryzhenkov noted that the European market has always been a priority for Metinvest, so they continue to expand their presence in the region. The company is exploring the possibility of building a new plant in Italy, which will help strengthen their presence in Ukraine. The talks about building a plant in Italy are real.

The main goal of the new plant is to supply Ukrainian mining and processing plants with high-quality pellets. This will create a "direct chain" from Ukraine to Europe and open up a major market for Metinvest's products. Italy is the company's second largest market after Ukraine.

It is noted that due to the consequences of the war and the blockade of the Black Sea ports, the workload of Metinvest's metallurgical enterprises is 60-70%, and that of its mining and processing plants is 35-40% of the pre-war levels. Despite this, the group's foreign operations are operating at 100% capacity. Most of Metinvest's profits continue to be generated in Ukraine.

The CEO also said that the company plans to launch new products at Zaporizhstal and Kametstal. Metinvest is exploring the possibility of producing beams using its existing equipment in Kamianske, which can be used for the construction of buildings and bridges. It is also considering the possibility of producing thick plates at Zaporizhstal.

According to Ryzhenkov, Metinvest's plans for the next three to five years are related to restoring the potential of steel production in Ukraine. They are focused on Zaporizhstal and Kametstal, but after Mariupol returns to Ukrainian control, the company will consider localizing its production in the region.

At the same time, he noted that Metinvest is currently unable to make significant investments in Ukraine due to circumstances that are clear to everyone.