Metinvest and Danieli signed a shareholder agreement on February 19, 2025, at the Italian Business and Made in Italy Ministry in Rome, which regulates their partnership in Metinvest Adria S.p.A. This agreement is seen as a crucial component of the project to build a modern steel plant in Piombino, Italy. It formalizes the key agreements regarding joint management, decision-making, and financing to facilitate the construction of the new plant. The facility will serve as a steel bridge connecting the metallurgy industries of Ukraine and Italy.
Adolfo Urso, Minister of Businesses and Made in Italy, made the following statement regarding the agreement: "Once again, we have kept our promises. The signing of the shareholder agreement is a decisive step toward revitalizing the Piombino steel center with green technology, making it stand out in Europe. It also strengthens the strategic cooperation between Italy and Ukraine, creating a solid bridge between our metallurgy industries, which is especially important in the context of Ukraine's reconstruction."
The agreement, which will ensure the balanced management of Metinvest Adria SpA, will come into effect after the necessary regulatory approvals are completed in the second half of 2025. Under the agreement, Danieli will provide the basic engineering for the electric arc furnace, steel production, casting, and rolling as part of its QSP-DUE module, while the establishment of cold steel processing, a service center, and auxiliary facilities and equipment is also planned.
Industrial Modernization and Sustainability
Yuriy Ryzhenkov, CEO of Metinvest, stated, “Given global instability and the ongoing war in Ukraine, the signing of this agreement is of great importance in ensuring the sustainable development of the Ukrainian and Italian metallurgy sectors.” Ryzhenkov emphasized that the project could play a key role in Ukraine’s post-war reconstruction efforts and contribute to its European Union integration process.
Giacomo Mareschi Danieli, CEO of Danieli Group, said, “This project is not only an investment in innovation and competitiveness but also a solid bridge between the Italian and Ukrainian steel industries,” highlighting the added value of international cooperation for the sector.
Project Financing and Production Capacity
The facility to be built in Piombino is expected to reach an annual production capacity of 2.7 million tons. The financing of the plant will primarily be secured through loans from international financial institutions and shareholders' own capital. Additionally, great emphasis will be placed on the environmental sustainability of the plant, and recycled materials, such as scrap, pig iron, and direct reduced iron, which will be partially sourced from Metinvest’s operations in Ukraine, will be used.
This agreement will deepen not only the economic but also the technological and environmental cooperation between Italy and Ukraine. Equipped with modernization and green technologies, this facility is expected to be an important project that will shape the future of steel production in the region
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