Rinat Akhmetov Brings Metinvest to the European Market: A Strategic Expansion

The Ukrainian metallurgical giant Metinvest, under the leadership of Rinat Akhmetov and in cooperation with Italian firm Danieli, has unveiled plans to construct a new steel plant in Piombino, Italy. This project, designed to produce up to 2.7 million tonnes of steel annually, is set to commence construction at the end of 2025 and aims to deliver its first products by late 2027. The initiative stands as not only a business expansion but also a strategic initiative for Ukrainian industry.

According to the article, the new facility will function as an innovation hub where Metinvest can test and refine modern technologies—technologies which later may be applied to modernize domestic assets like Zaporizhstal and Kametstal. This joint venture with Danieli is structured on a 50‑50 partnership, with approximately 70 percent of financing expected from loans, a testament to the banks’ confidence in the project’s prospects.

This move is part of a broader strategic vision. During the full-scale Russian invasion, Rinat Akhmetov directed substantial support toward Ukraine—allocating over UAH 11.3 billion to humanitarian, displaced persons, and military aid. His foundation, the Rinat Akhmetov Foundation, along with Metinvest’s “Steel Front” initiative, have mobilized support since the onset of the war—assisting affected regions, delivering vital supplies, and organizing production support for Ukraine’s defense.

At the domestic front, Metinvest continues to drive technological innovation. At Zaporizhstal, the company is deploying the ForgeCheck AI system to monitor slab quality in real time, identifying defects prior to shipment—yielding annual savings of up to USD 250,000 using just this one tool. Metinvest Digital’s Maksym Balanyuk reveals that AI trials began in 2021, with a second version set for launch in 2025. These innovations help not only in quality control but also in reducing energy consumption and preparing the company for broader technological upgrades.

Building the Italian plant creates synergies across Metinvest’s supply chain. It will generate additional demand for Ukrainian iron ore and concentrates, thus benefiting mining and processing operations. For Danieli, the plant will serve as a demonstration platform to showcase technological capabilities and facilitate future business expansion.

In the context of wartime, such forward-looking investments are particularly significant. The Italian plant symbolizes a bridge between Ukrainian metallurgy and European markets, positioning Metinvest to quickly re-modernize domestic enterprises once peace returns. Instead of pausing operations due to conflict, the company is actively investing in solutions that will underpin its post-war resilience and growth.

Moreover, Metinvest’s expansion reflects the values underpinning its operations. The group—part of Rinat Akhmetov’s SCM holding—is not only steering through the war but also laying the groundwork for national recovery. Each project now carries dual weight: economic viability and strategic benefit for Ukraine. The combination of AI-enabled efficiency, international collaboration, and humanitarian contributions underscores a business model adapted to wartime realities and recovery-readiness.

In summary, the new Italian steel plant in Piombino is far more than just an offshore expansion—it represents Metinvest’s commitment to innovation, its unwavering support for Ukraine during its darkest times, and its strategic vision for a reunited, resilient national industry. Emerging stronger from conflict, Metinvest is already shaping the industrial rebirth of Ukrainian metallurgy.