Dutch mining and metallurgical holding of Ukrainian billionaires Rinat Akhmetov and Vadim Novinsky Metinvest B.V. (Metinvest) announced that its Italian plant Metinvest Trametal is launching a new plasma cutting line. This technology is also known as trimming shears.
The project is financed under a credit line from Bank of Italy Cassa Depositi e Prestiti S.p.A (“CDP”) approved in June 2020 under the guarantee of SACE S.p.A. ("SACE"), a government export credit agency, as part of the Garanzia Italia initiative.
Installation of a Master Plasma Bevel LineaTech Nova 55 plasma cutting line with an investment of EUR 10 million is a key project of the Metinvest Trametal capital investment program. The line allows to increase the capacity for the production of cut-edge sheet products almost fourfold - from 65,000 tons to 235,000 tons per year. For its installation, a new building with a total area of 6,800 square meters was built at the enterprise. The launch of the new line will create 16 new jobs.
The line was put into operation on November 26 at the San Giorgio di Nogaro plant in northeastern Italy. The ceremony was attended by representatives of European steel companies, financial institutions, local authorities and the media. They were able to see how the funds from the credit line were used to develop the production of value-added products, as well as how these investments stimulate the local economy both during the construction phase and through the creation of additional jobs with permanent employment.
Metinvest Group acquired Trametal in 2008. The productivity of the four-high reversing mill (“quarto” mill) of the enterprise is 600 thousand tons of high-quality hot-rolled sheet products per year. The products are used in shipbuilding, pipe industry and other industries. In 2020, Metinvest Trametal supplied rental for the construction of St. George's Bridge, a new sustainable structure designed by the architect Renzo Piano. The bridge connected the two parts of Genoa after the tragic collapse of the Morandi Bridge. In 2021, the Financial Times included Metinvest Trametal in the list of 300 climate leaders in Europe who achieved the largest reduction in greenhouse gas emissions in 2014-2019. The company employs 300 people.