This agreement is an important component of the project to construct a modern steel plant in Piombino, Italy. It formalizes the main agreements between Metinvest and Danieli regarding joint management, decision making and financing that will facilitate the construction of the new plant. The facility is set to become a steel bridge connecting the metallurgical industries of the two countries — Ukraine and Italy.
“Once again we have kept our promises. The signing of the shareholders’ agreement marks a decisive step towards the relaunch of the Piombino steel hub, with green technology at the forefront in Europe. At the same time, it strengthens the strategic cooperation between Italy and Ukraine, creating a solid bridge between our metallurgical industries, which is particularly important in the perspective of the reconstruction of Ukraine,” declared Adolfo Urso, Minister of Enterprise and Made in Italy.
The signing of the shareholder agreement marks an important step in strengthening the strategic cooperation between the two groups. It will ensure the balanced and effective management of Metinvest Adria S.p.A., and it is focused on the implementation of the project and the long-term strategic goals of both groups. The shareholder agreement is expected to come into full force in the second half of 2025, following the fulfilment of all preceding conditions, including obtaining the necessary regulatory approvals.
“The signing of this agreement is a key step in ensuring the sustainable development and future of both the Ukrainian and Italian metallurgical industries. It is an opportunity to establish a segment of the economy that can serve as a foundation for both building the future of Europe and rebuilding Ukraine after the war,” stated Yuriy Ryzhenkov, CEO of Metinvest.
Metinvest Adria will act as the project company for the joint construction and operation of an environmentally sustainable steel rolling plant. Located in Piombino, Tuscany (Province of Livorno), Italy, the plant will play a key role in modernizing and boosting steel production in the region. The facility will utilize electric arc furnace technology and recycled materials, including scrap, pig iron and direct reduced iron, which will be partially sourced from Metinvest’s Ukrainian operations.
In addition to the shareholder agreement, the meeting also featured the signing of a contract between Metinvest Adria and Danieli for the development of the basic engineering for the new steel plant in Piombino. The Metinvest Adria project should also serve as a model for the future modernization of Metinvest’s steelmaking facilities in Ukraine.
“This project is not only an investment in innovation and competitiveness, but also a bridge between the Italian and Ukrainian steel industries. Danieli is committed to developing technological solutions that can reshape the future of steel, and the partnership with Metinvest is a clear example of how international collaboration can generate value for the entire sector. This plant will not only be a symbol of industrial progress, but also a key element for the modernization of steel production in Italy and Europe,” said Giacomo Mareschi Danieli, CEO of Danieli Group.
The contract covers basic engineering for electric arc furnaces, steelmaking, casting and rolling on the Danieli QSP-DUE module. It also includes the establishment of a cold steel processing and service center, as well as auxiliary facilities and equipment. The use of advanced technologies will ensure the plant’s high productivity and environmental safety.
