Metinvest Group and the Italian Ministry of Enterprise and Production have signed a declaration to promote the industrial revival of the city of Pembino through the construction of a green steel plant. The €2.5 billion project is of strategic importance for Italy and Ukraine, with SACE, Cassa Depositi e Prestiti and other financial institutions confirming their interest. The plant, with a capacity of 2.7 million tons per year, will use innovative green technologies, including electric arc furnaces and secondary raw materials from Ukraine.
The project, based on a memorandum signed in April 2024, has already received the support of the North Tyrrhenian Port Authority and an agreement with JSW Steel Italia on access to industrial zones. The plant will be one of the most modern in Europe, and the signing of a program agreement defining the details of implementation is scheduled for early 2025.
The construction of the plant will contribute to the development of the region, create jobs and reduce Italy’s dependence on steel imports. Metinvest CEO Yuriy Ryzhenkov noted that this project will become an example of successful international cooperation in sustainable industrial development, combining the efforts of different sectors to achieve economic and environmental progress.