Ukrainian "Metinvest" plans to build a new metallurgical plant in Bulgaria
Source：Expert BG
From：Taiwan Trade Center, Sofia
Update Time：2022/07/31
The Ukrainian mining and metallurgical group "Metinvest" of Rinat Akhmetov and Vadim Novinsky is considering building a new metallurgical plant in Bulgaria or Italy. The group controlled the war-torn Azovstal mega-plant in Mariupol.
The investment intention was disclosed by Yuriy Rizhenkov - general director of "Metinvest" in an interview for the business project Let's Talk, organized by the European Business Association.
"Our technological strategy includes investments both in Ukraine and in other countries. One of the options for the development of the metallurgical business for us is iron ore from Kryvyi Rih. On this basis, we can work abroad. For example, now we are considering the possibility of building a new plant in Bulgaria or Italy", explains Rizhenkov.
According to him, it is clear that the future enterprise can to some extent replace the activities of Azovstal, which was taken over by Russia. "We have to look for synergy with the assets that the company has," emphasizes Yuri Rizhenkov.
An important condition for the construction of the new plant is to guarantee that the iron ore can reach the country where the new production will be located. Because of the blocked Black Sea ports, "Metinvest" is forced to export its products only via railways to the West, Ukrainian News Agency reports.
The war has seriously changed the plans of the metallurgical company, which is looking for new opportunities. "We were about to invest in a new larger plant in Italy, we planned to build it in 3-4 years. But the problem is that it had to process the production of Azovstal", Rizhenkov explains.
The Ukrainians already have a factory in Bulgaria
The Ukrainian group already has business in Bulgaria - it owns the metallurgical plant "Promet Steel", located near the village of Debelt in the Burgas region, where several hundred people work.
The enterprise is one of the largest producers of steel in our country and, together with the subsidiary "Stomana Industry", shares the Bulgarian market of steel products. Every year, the factory in Debelt exports hundreds of thousands of tons of steel to Central and Eastern Europe, the Middle East and even North America.
"Metinvest" also owns two metallurgical plants in Italy, one in the UK and mines in the USA. There is also a large trading company that sells the group's products worldwide. The Ukrainian group has a total of about 80,000 employees.
Source: https://www.expert.bg/business/investments/ukrainskata-metinvest-planira-da-izgradi-nov-metalurgichen-zavod-v-bylgarija-1775256.htm