The Lithuanian company Investment Limited is seeking the assistance of the Ukrainian League of Industrialists and Entrepreneurs (ULIE) in attracting the participation of Ukrainian steel companies in the
construction of a
rebar plant in
Lithuania's Klaipeda Free Economic Zone.
According to the ULIE release, one of the main conditions for the success of the €45 million-project is the timely and guaranteed delivery of 450,000 metric tons of billets per year, which will be required from the Ukrainian participants.
The main reason behind the
construction of the new
rebar plant in
Lithuania is the growing need for
rebar in the European Union (EU).
The current project will also benefit Ukrainian steelmakers since the supply of billets to the new mill would allow them to evade EU steel quota limitations.