2023-07-12T17:15:00+03:00 Economy 2024-09-15T05:18:14+03:00

Ukrainian news

Metallurgical enterprises of Metinvest loaded at 60-70%

Metallurgical enterprises of Metinvest loaded at 60-70%

Metallurgical enterprises of the Metinvest group are loaded by 60-70%, and mining and processing plants - by 35-40% of pre-war indicators.

This was announced by the director general of the Metinvest group Yurii Ryzhenkov in an interview for the FAQ Talks project, Ukrainian News Agency reports.

"We have certain short-term plans regarding, for example, the release of new products at Zaporizhstal or Kametstal. We are studying the question of how to produce a beam on existing equipment or by slightly restoring it in Kamianske. This product can be used for construction of buildings or bridges. We are looking at how thick sheet can be produced at Zaporizhstal. There are examples where we have produced thick sheet, already shipped to customers and we have certain feedback. That is, there are quick things that we want to do to restore the supply of products, which we lost with the loss of control over Mariupol, which Ukrainian metallurgy lost. We want to resume the supply of these types of products from our other enterprises," he said.

According to him, the plans for the next 3-5 years are also more related to the restoration of the production potential of steel products in Ukraine.

"Our strategic program for the development of mining and processing plants has hardly changed. There, from the very beginning, the program was based on producing higher-quality products in order to have a higher percentage of iron in the final products. This is very important for "green" metallurgy. It is developing in all over the world, primarily in the European Union, and Ukraine is on its way to the European Union. I think that when Ukraine becomes part of the EU, it will be the same chain that will integrate the Ukrainian mining and metallurgical industry into the European one. We can produce semi-finished products for "green" metallurgy. This is quite important for the European Union," Ryzhenkov added.

He also confirmed the plans for the construction of a metallurgical plant in Italy.

"For Metinvest, the European market has always been the number one market. Therefore, now we are simply continuing these processes. We are studying the opportunities that may be there, primarily in order to strengthen our opportunities here in Ukraine. For example, there was a lot of talk about that we are considering the possibility of building a new plant in Italy. This is true. This plant is exactly what needs to be built in Italy in order to load Ukrainian mining and processing plants with super high-quality pellets. It will be a direct chain from Ukraine to Europe, it will be a serious sales market for our high-quality mining products," Ryzhenkov noted.

As Ukrainian News Agency earlier reported, Metinvest ended 2022 with a loss of USD 2.193 billion, compared to a net profit of USD 4.765 billion for 2021.

In 2022, the group's revenue decreased 2.2 times or by USD 9.7 billion to USD 8.288 billion.

In 2022, compared to 2021, the Metinvest group reduced the production of finished products 2.6 times or by 4.456 million tons to 2.777 million tons.

The main shareholders of the Metinvest group are SCM (71.24%) and the Smart-holding group (23.76%), which participate in the management of Metinvest on a partnership basis.

100% of SCM shares belong to businessman Rinat Akhmetov.