The Metinvest group joined the government's platform regarding the green recovery of the metallurgical sector of Ukraine.
This will help restore industry through ecological, green transformation of steel production, support the national economy and EU decarbonization programs, reports the press service of Metinvest.
It is noted that the partnership memorandum was signed at the Ukraine Recovery Conference (URC) held in London. It was signed by the General Director of Metinvest Yuriy Ryzhenkov, First Deputy Prime Minister – Minister of Economy Yuliya Svyridenko, representatives of EU steel companies and potential consumers. The coalition brings together equipment manufacturers, consumers, financial institutions, government and other stakeholders.
"Green steel is a key element of the Group's long-term strategy. Part of it is the transition to the use of DR-class pellets at the metallurgical plants of Metinvest in Ukraine. This is our green transit. We are ready for this transition, ready to finance it to a large extent after Ukraine's victory in the war. We will also be happy to become partners in this direction," Ryzhenkov said.
He added that during the post-war reconstruction, Ukraine should be considered as part of the EU and part of the bloc's production chain.
It is noted that as part of the implementation of the green transition strategy, "Metinvest" plans to work in two main directions:
- to improve the quality of iron ore products to DR class with a gradual increase in its production capacity;
- to re-equip the Zaporizhstal and Kametstali workshops for a more environmentally friendly electric steel smelting method of steel production from DRI-class pellets (with the prospect of switching to hydrogen, in particular produced with the help of renewable energy), as well as to expand the line of rolling products.
According to experts, the cost of the medium-term strategy of the green transition to 2035 is about $35 billion. Such investments will ensure the production of up to 15 million tons of green steel per year.
Earlier, EcoPolitic wrote, that CEO of the Metinvest Yuriy Ryzhenkov group said that the company is ready to join the green transition of Ukraine and Europe, as well as to the reconstruction of the country, in particular Mariupol.
As EcoPolitic previously reported, the Metinvest group announced its intention to produce DRI products (green steel) at its reconstructed factories in Mariupol and Avdiivka, in Donetsk region, after the deoccupation.
