Green Steel from Davos: Metinvest Tests in Italy a Model for Ukraine’s Post-War Revival

How can Ukraine’s war-torn steel industry not only recover but become a world leader in “green” steel production? The CEO of Metinvest, Yuriy Ryzhenkov, provided an answer in an interview with CBS News at the World Economic Forum in Davos, presenting a strategy already being tested in Europe.

Steel as the New Sustainable Trend

In the public consciousness, steel is often associated with “dirty” production, but it could become a key material for a green future. Metinvest CEO Yuriy Ryzhenkov stated this in Davos.

“Steel is the most recyclable material: it can be 100% recycled and used over and over again. Combined with low-carbon production, it can become a truly sustainable material,” emphasized Ryzhenkov.

According to his estimate, global iron ore reserves, including Ukrainian ones, provide the industry with a perspective of over 100 years. And the transition to low-carbon and carbon-neutral steel is not an environmental whim but a direct path to new markets and applications that align with global EU trends.

For Western investors and partners, the commitment of a major Ukrainian industrial group to a green transition, despite the war, signals long-term planning and alignment with ESG (Environmental, Social, and Governance) principles, making it a potential focal point for future reconstruction investments.

An Italian Prototype for Ukrainian Revival

The main challenge for the company now is the impossibility of large-scale investments in Ukraine due to the war. But this challenge is turning into a strategic opportunity. Metinvest is building a model for the future abroad.

According to the company, the key project is Metinvest Adria in Piombino, Italy. This plant, set to become one of the most modern in Europe, is precisely that prototype.

“We plan to use this pilot project as a prototype for the restoration and modernization of our Ukrainian capacities after the war,” noted Ryzhenkov.

Thus, the European site is becoming a testing ground and a blueprint for the post-war transformation of the entire Ukrainian steel industry.

Survive to Rebuild: How the Company Endures in Wartime

Ryzhenkov openly acknowledged the scale of the losses: the two largest plants in Mariupol were completely destroyed, and the company lost almost half of its business. The response was a complete overhaul of logistics, adaptation of supply chains, and a focus on personnel safety.

But an even more significant contribution has been to defense. The head of Metinvest detailed the role of shareholder Rinat Akhmetov and the “Steel Front” he created.

“We are probably the largest donor to the Armed Forces. Over the past four years, in support of the Ukrainian people and military, Metinvest has transferred over $200 million, and half of this amount is directed to the needs of the Defense Forces,” noted Ryzhenkov.

The company produces steel underground hospitals, protective screens, and plates for body armor for the army. According to the CEO, this is not only substantial support but also a powerful motivational factor for the team.

Investing in People: Preparing Personnel for the Future

Parallel to defense tasks, Metinvest is already laying the groundwork for the post-war leap. Since 2022, Ukraine’s first private mining and metallurgical university, “Metinvest Polytechnic,” has been operating, offering dozens of educational programs—from bachelor’s to doctoral degrees.

This is a direct investment in a talent pool that will bring the “green” steel model to life in a rebuilt Ukraine.

Conclusion: The Strategy is Clear, Despite All Risks

The position of Metinvest, voiced at the world’s main business platform, is clear and strategically sound: even under war conditions, the company is not just surviving but shaping a vision for the future. A future in which Ukrainian steel, produced using the most modern and environmentally friendly technologies, will again become a competitive global brand, and its production—a driver of economic recovery.

This message is especially important for foreign partners and investors who, in Davos, assess not only current risks but also long-term prospects for cooperation with Ukraine. For instance, Polish Minister of State Assets, Wojciech Balczun, speaking at the forum, noted his country’s and its business’s interest in participating in the reconstruction of our republic, estimating the total volume of necessary investments at 506 billion euros for the period until 2034.