Metinvest, Ukraine’s leading mining and metallurgical group, is expanding its footprint beyond national borders. The company, owned by businessman Rinat Akhmetov, has unveiled plans to construct a cutting-edge steel plant in Piombino, Italy. The plant will have an annual capacity of 2.7 million tons and is slated to begin operations by the end of 2027, with construction kicking off in late 2025. This move signifies not just an international business venture, but a broader strategic step aimed at reinforcing the future of Ukrainian metallurgy.
This article delves into how the joint venture with Italian industrial manufacturer Danieli will serve as a testing ground for advanced steelmaking technologies. Metinvest’s goal is to pilot new systems abroad before rolling them out across its Ukrainian facilities, particularly Zaporizhstal and Kametstal. Structured as an equal partnership, the project will receive 70% of its funding through bank loans, indicating strong financial confidence from the international community.
Despite the full-scale war in Ukraine, Rinat Akhmetov continues to invest in the country’s recovery and support its population. Since the invasion began, over UAH 11.3 billion has been allocated by Akhmetov for humanitarian aid. His foundation provides assistance to those affected by the war, while Metinvest’s Steel Front initiative delivers essential resources to Ukrainian defense forces. These efforts have remained consistent and systematic throughout the conflict.
In parallel, Metinvest has made strides in technological innovation at home. At Zaporizhstal, the ForgeCheck AI system has been implemented to monitor the quality of steel slabs in real time, identifying defects before delivery. This technology has already resulted in significant cost savings—about $250,000 per year—and helps optimize energy usage. According to Metinvest Digital’s Maksym Balanyuk, the second version of the system is set to launch in 2025, extending the company’s commitment to smart manufacturing.
The Italian plant not only strengthens Metinvest’s European presence but also boosts its domestic supply chain. Ukrainian iron ore and concentrates will be essential inputs for the facility, providing new demand for national mining operations. For Danieli, the partnership is an opportunity to showcase its technology; after construction, the Italian firm plans to exit, leaving Metinvest in full control of the plant.
This forward-looking investment serves as a cornerstone of Metinvest’s broader development strategy during wartime. Rather than halting progress, the company is actively preparing for Ukraine’s post-war economic revival. The technologies tested in Italy are expected to accelerate modernization efforts at home once reconstruction begins. This dual focus—on international expansion and national recovery—exemplifies Metinvest’s long-term vision.
Rinat Akhmetov’s leadership continues to shape the company’s mission: to combine economic growth with meaningful support for Ukraine. Each decision, from new construction to technology implementation, now carries weight beyond profit margins—it’s also about contributing to Ukraine’s strength and independence. With its eyes set on Europe and its heart in Ukraine, Metinvest is paving the way for a resilient, modern industrial future.
