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Metinvest to sign $ 1bn contract for construction of a workshop in Mariupol this week - CEO

Ukraine

The new cold-rolling shop will be built at the Ilyich metallurgical plant and will be one of the first steps of the Dutch mining and metallurgical company to move its steel facilities out of the center of Mariupol.

Metinvest to sign $ 1bn contract for construction of a workshop in Mariupol this week - CEO

Metinvest Group plans to move its metallurgical facilities outside the city center of Mariupol and the first step towards the implementation of this program will be the construction of a new cold rolling mill on the territory of the MMK named after M. Ilyich. Yuriy Ryzhenkov, General Director of Metinvest Group, said on the air of Ukraine 24 TV channel, the corresponding contract worth $ 1 billion will be signed this week.

“We always say that an enterprise in the city center is difficult in terms of the technogenic load on the city. We are thinking about moving production away from the city center, creating it in a new location, ”he said. “This is no longer a modernization of something old, but actually a new built clean, environmentally friendly production that will serve for many years.”

The shareholders of Metinvest Group are Rinat Akhmetov's SCM (71.24%) and Vadim Novinsky's Smart Holding (23.76%), which take part in the management of Metinvest on a partnership basis. The company is headquartered in The Hague, The Netherlands.

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