Ukraine’s Metinvest is considering setting up a new steel plant in Trieste, Italy with a preliminary investment estimated at €700mn ($835mn).
According to statements made by Danieli, it plans to work with Metinvest on this mill with the partnership potentially expanding in Italy after Danieli teamed up with the steelmaker for the Mariupol expansion in Ukraine.
In Mariupol, the investment is about €500mn according to Danieli management. The village of Noghere in Ukraine may be the site for the new hot rolling mill, though Metinvest is yet to define the mill’s scope. The steelmaker is anticipated to address this issue at a board of directors meetings in July. Ukrainian slab would be supplied to the site for rolling and processing into finished flat steel products.
Metinvest may begin construction in the next 6-7 months with a production target in 2024. Metinvest operates Metinvest Tametal and Ferriera Valsider in Italy with over a 1mn mt of combined capacity annually.
(€1= $1.19)