During the Ukraine Recovery Conference held in Rome, a program agreement was officially signed to support the revitalization of the Piombino steelmaking hub in Tuscany. The initiative, led by a public-private partnership, represents a key step toward the reindustrialization of the area and the economic regeneration of the local community.
The agreement was signed by Metinvest Adria - a joint venture between Ukraine’s Metinvest Group and Italy’s Danieli Group - together with the Italian Ministry of Enterprises and Made in Italy (MIMIT), the Ministry of Infrastructure and Transport (MIT), the Ministry of the Environment and Energy Security (MASE), the Ministry of Labour and Social Policies, the Tuscany Region, the Municipality of Piombino, and other local institutions.
The project includes the construction of a next-generation steel plant in Piombino, with a total investment of approximately €2.5 billion, of which €1.5 billion will be allocated to cutting-edge technology supplied by Danieli. The agreement also provides for a development agreement with MIMIT, supported by a SACE guarantee (SACE is Italy’s export credit agency), which will be activated upon approval by the Ministry of Economy and Finance (MEF).
According to Metinvest Adria, the plan will create approximately 1,100 stable jobs, including both direct and indirect employment. The agreement is part of a broader roadmap that has already included the signing of a union agreement with relevant trade organizations.
As previously reported by SteelOrbis, the formalization of this program agreement marks a natural continuation of the process started with the establishment of Metinvest Adria and the subsequent development agreement signed by JSW Italy for the modernization of the existing rail production mill. The signing confirms the shared goal of transforming Piombino into a strategic European hub for green steel production.
“This is not just an industrial project,” stated Yuriy Ryzhenkov, CEO of Metinvest Group, “but a concrete example of reconstruction and international cooperation between Italy and Ukraine.”
The Piombino site is thus positioned to become a European reference point for low-emission steelmaking, leveraging state-of-the-art, energy-efficient, and environmentally sustainable technologies, while also strengthening strategic ties between the two countries.