Towards a new Metinvest plant in Italy with Danieli

(ANSA) - TRIESTE, 20 LUG - A joint venture to produce green steel in Italy, in collaboration with the Danieli group, was announced today by Metinvest. Environmental and economic surveys are underway to identify a suitable site for the forthcoming plant.
    The total capex (capital expenditure) of the investment - a statement reads - is preliminarily estimated at over 2 billion euros, and international financial institutions and European state and private banks will support the financing.
    The joint venture represents "an important step in Metinvest's green transition. In addition to the environmental modernization of Ukrainian steel mills and the increase in the production of DRI pellets in Kryvyi Rih, the new Italian site will play a significant role in the environmental transformation of the group, Ukraine, and the EU".
    The new plant will be based on the Electric Arc Furnace (EAF) and advanced sustainable steelmaking technologies supplied by the Danieli Group. The raw materials, including DRI pellets, will come from Metinvest's iron ore mining sites in Kryvyi Rih.
    "The venture - the statement reports - will create thousands of jobs in Ukraine and Italy and will help restore the previously high levels of utilization of the group's iron ore mining sites. The latter sites are operating at reduced capacity due to the blockade of Ukrainian ports and the loss of operational control over Metinvest's Mariupol plants". (ANSA).