Interfax Ukraine reported that Ukrainian steel maker Metinvest will resume investments in new Ukrainian assets only after the war. Metinvest CEO Mr Yuriy Ryzhenkov said “Ukraine must win convincingly in order to resume investment.”In the conditions of war Metinvest is rethinking its strategy, but the task remains unchanged to become one of the key players in the European metallurgical market. According to Mr Ryzhenkov, the company plans to build a new plant in Bulgaria or Italy, which will provide the group's mining and processing plants with a market for iron ore.Zaporizhstal’s General Director Mr Oleksandr Myronenko said “”It will be possible to return to new large projects in Ukraine in two or three years after the end of the war. So much time, according to him, will take the resumption of logistics chains, production volumes, the return of old and the search for new employees.”Metinvest is considering two possible options for restoring its assets in Mariupol liberated from the invaders. None of them assumes the resuscitation of Azovstal in the same place. The first is the restoration of Illich Iron and Steel Works with the expansion of its production lines, which were at Azovstal. The approximate cost of the project is estimated at USD 15 billion with possible construction period of seven years. The second option is to build a new plant on a new territory. The approximate cost of this project is USD 8-9 billion.Metinvest is a vertically integrated group of mining and metallurgical enterprises. The group's enterprises are located mainly in Donetsk, Luhansk, Zaporizhia and Dnipropetrovsk regions.
Interfax Ukraine reported that Ukrainian steel maker Metinvest will resume investments in new Ukrainian assets only after the war. Metinvest CEO Mr Yuriy Ryzhenkov said “Ukraine must win convincingly in order to resume investment.”In the conditions of war Metinvest is rethinking its strategy, but the task remains unchanged to become one of the key players in the European metallurgical market. According to Mr Ryzhenkov, the company plans to build a new plant in Bulgaria or Italy, which will provide the group's mining and processing plants with a market for iron ore.Zaporizhstal’s General Director Mr Oleksandr Myronenko said “”It will be possible to return to new large projects in Ukraine in two or three years after the end of the war. So much time, according to him, will take the resumption of logistics chains, production volumes, the return of old and the search for new employees.”Metinvest is considering two possible options for restoring its assets in Mariupol liberated from the invaders. None of them assumes the resuscitation of Azovstal in the same place. The first is the restoration of Illich Iron and Steel Works with the expansion of its production lines, which were at Azovstal. The approximate cost of the project is estimated at USD 15 billion with possible construction period of seven years. The second option is to build a new plant on a new territory. The approximate cost of this project is USD 8-9 billion.Metinvest is a vertically integrated group of mining and metallurgical enterprises. The group's enterprises are located mainly in Donetsk, Luhansk, Zaporizhia and Dnipropetrovsk regions.
