Metinvest and Danieli sign agreement for green steel plant

The agreement was signed at the Italian Ministry of Enterprises and Made in Italy in Rome, and formalises the main agreements between Metinvest and Danieli regarding joint management, decision-making, and financing that will facilitate the construction of the new plant. The facility is set to become a 'steel bridge connecting the metallurgical industries of the two countries' — Ukraine and Italy.

Adolfo Urso, minister of Enterprise and Made in Italy, stated: “Once again we have kept our promises. The signing of the shareholders’ agreement marks a decisive step towards the relaunch of the Piombino steel hub, with green technology, at the forefront in Europe. At the same time, it strengthens the strategic cooperation between Italy and Ukraine, creating a solid bridge between our metallurgical industries, which is particularly important in the perspective of the reconstruction of Ukraine.”

The signing of the shareholder agreement marks an important step in strengthening the strategic cooperation between the two groups, says Metinvest, and it is focused on the implementation of the project and the long-term strategic goals of both groups. The shareholder agreement is expected to come into full force in the second half of 2025, following the fulfilment of all preceding conditions, including obtaining the necessary regulatory approvals.

During the signing of the agreement, Yuriy Ryzhenkov, CEO of Metinvest, commented: “Given global instability and the ongoing war in Ukraine, the signing of this agreement is a key step in ensuring the sustainable development and future of both the Ukrainian and Italian metallurgical industries. This is our chance to unite and accelerate Ukraine’s integration into the EU. It is an opportunity to establish a segment of the economy that can serve as a foundation for both building the future of Europe and rebuilding Ukraine after the war.”

Metinvest Adria will act as the project company for the joint construction and operation of an environmentally sustainable steel rolling plant. Located in Piombino, Tuscany (Province of Livorno), Italy, the plant will utilise electric arc furnace technology and recycled materials, including scrap, pig iron and direct reduced iron, which will be partially sourced from Metinvest’s Ukrainian operations.

In addition to the shareholder agreement, the meeting also featured the signing of a contract between Metinvest Adria and Danieli for the development of the basic engineering for the new steel plant in Piombino, which the companies claim will become one of the most technologically advanced green steel production facilities in the world.

Giacomo Mareschi Danieli, CEO of Danieli Group, said: “This project is not only an investment in innovation and competitiveness, but also a bridge between the Italian and Ukrainian steel industries. Danieli is committed to developing technological solutions that can reshape the future of steel, and the partnership with Metinvest is a clear example of how international collaboration can generate value for the entire sector. This plant will not only be a symbol of industrial progress, but also a key element for the modernisation of steel production in Italy and Europe.”