Metinvest Adria, the joint venture between Ukrainian steelmaker Metinvest and Italy-based plantmaker Danieli, is working to bring a third investor into its project for the construction of a new electric arc furnace-based steel plant in Piombino, Italy, which is set to produce hot rolled coil (HRC).
According to Italian media reports, construction work could be postponed to spring 2027, implying a delay of around eight to ten months compared to the original schedule. The possible postponement is reportedly linked both to the complexity of the permitting process and to the need to complete the project's financial structure. The overall investment is estimated at approximately €3.2 billion, including €285 million in public funding.
In particular, the pool of banks involved in financing the project has reportedly requested that the shareholder structure be strengthened through the entry of a third financial or industrial partner.
Metinvest Adria CEO Luca Villa stated that the company has already received several expressions of interest from infrastructure investment funds, industrial players linked to the steel value chain, as well as Italian and international steelmakers. The company is aiming to finalize the process by the end of October.
Meanwhile, the environmental authorization procedure is moving forward. Metinvest Adria said it submitted the additional documentation requested by the Tuscany regional authorities on August 11 and August 20, following a request for clarifications and supplementary information issued on July 20 as part of the environmental impact assessment (EIA) screening procedure.
According to the company, the procedure is progressing in line with the timeframe established by national and regional regulations. Following the submission of the additional documentation, the competent authority has 45 days to issue its decision. The current deadline for the completion of this stage is October 4, 2026, subject to any exceptional extension provided for by law.
Metinvest Adria also clarified that the submission of the supplementary documentation will not trigger a new 30-day public consultation period, as this stage has already been completed.
A further key step is scheduled for October 20, when Italy's Ministry of Enterprises and Made in Italy (Mimit) will hold a new meeting to review the progress of the Piombino project.
As SteelOrbis previously reported, the Metinvest Adria project is one of the key elements in the broader plan to revitalize the Piombino steelmaking hub, alongside the industrial restructuring process involving JSW Steel Italy.
