Ukrainian steelmaker Metinvest has announced that it has signed a shareholders' agreement with Italian plantmaker Danieli on a partnership within Metinvest Adria SpA, which will be the project company for the joint construction and operation of the green steel plant in Piombino, Italy. This move consolidates agreements on joint management, decision-making and financing of the new steel plant in Piombino.
The shareholders’ agreement is expected to enter into full force in the second half of 2025. “Given the global instability and the war in Ukraine, signing such an agreement is a major step towards ensuring sustainable development and the future of both Ukrainian and Italian metallurgy,” Yuriy Ryzhenkov, CEO of Metinvest Group, said.
In addition to the shareholder agreement, a contract was signed between Metinvest Adria and Danieli to develop the basic engineering for the Piombino plant. The contract covers basic engineering for electric arc furnaces and casting and rolling on the Danieli QSP-DUE module. In addition, it is planned to establish a cold steel processing and service center, as well as auxiliary plants and equipment.
The new plant will have an annual capacity of 2.7 million mt.
