Metinvest's CEO on Rebuilding After the Loss of Mariupol Plants.

The Future of Steel and Supporting Ukraine

According to TSN.ua: Yuriy Ryzhenkov, CEO of Metinvest, highlighted steel's enduring role as a material of the future and the critical need to decarbonize the steel industry. He detailed the severe losses the company suffered due to the war, including the complete destruction of its two largest metallurgical plants in Mariupol in 2022. Despite these immense challenges, Ryzhenkov pointed out that global and Ukrainian iron ore reserves provide the industry with a resource base for well over a century. The steel sector remains a cornerstone of Ukraine's industrial economy and its post-war recovery prospects.

Active Support and Recovery Plans

Metinvest has actively supported the Ukrainian people and its Armed Forces, contributing over $200 million in aid over the past four years. The company manufactures vital defense products, including steel underground hospitals, protective shields for vehicles, and plates for body armor. Ryzhenkov noted that:

'Shareholder Rinat Akhmetov's decision from the very start of the full-scale invasion was to support the Armed Forces of Ukraine. This has not only provided substantial military aid but also served as a powerful motivator for the company's employees.' Yuriy Ryzhenkov

As part of its post-war recovery and modernization strategy, the company is implementing the pilot Metinvest Adria project in Piombino, Italy. Ryzhenkov plans to use this project as a prototype for rebuilding Ukrainian production facilities. Furthermore, the Metinvest Polytechnic, operational since 2022, is helping to train the specialists needed for reconstruction by offering:

• 19 bachelor's degree programs,
• 21 master's degree programs,
• five doctoral programs.

Thus, Metinvest is not only enduring losses but is actively preparing for recovery, fostering the development of metallurgy and supporting its country during a difficult period. The company's efforts in aiding the military and implementing innovative projects demonstrate a firm commitment to Ukraine's stable future, where the steel industry will be vital for jobs, revenue, and economic revival.