Primetals Technologies to support the recovery of the Ukrainian steel industry

In the Summer of 2023, during the Ukraine Recovery Conference held in London, Primetals Technologies joined the Ukrainian government’s platform for the green recovery of the metals industry in Ukraine. The conference was inaugurated by the Prime Minister of the United Kingdom, Rishi Sunak, and the President of Ukraine, Volodymyr Zelenskyy, who delivered his speech remotely.

The platform for recovering the steel industry in Ukraine brings together major players in the iron and steel sphere to support the reconstruction. Even before the start of the war, there were plans for upgrading the Ukrainian steel industry. The country’s geographical position will make it possible to feed European and global supply chains with low-carbon-emissions feedstock and steel products.

As a first step, Primetals Technologies will contribute to a feasibility study scheduled to complete in 2024.

“We are very pleased to support the Ukrainian government for the recovery of the Ukrainian steel industry,” said Dr. Alexander Fleischanderl, Head of Green Steel and Senior Vice President at Primetals Technologies. “The steel plants in Ukraine have long played an important role on a European and a global level, and the iron and steel sector is central to Ukraine’s economy. With the projected investments targeting the entire value chain, Ukraine is poised to become a global hub for green ironmaking and steelmaking.”

Source and Photo: Primetals

In 2021, the iron and steel sector accounted for some ten percent of Ukraine’s GDP, and represented the number one industry in terms of tax-related contributions. Also, it employed about 600,000 people. It is estimated that 20–40 billion dollars worth of investments will be needed to establish a green iron and steel value chain in Ukraine. These investments would encompass iron ore beneficiation and pelletizing, clean power and hydrogen production, green ironmaking and steelmaking facilities, and related infrastructure.

Signing of the letter of intent. From left to right: Andreas Lemp, Senior Vice President, Customer Relationship Management, Alexander Fleischanderl, Head of Green Steel and Senior Vice President, both with Primetals Technologies; Yuriy Ryzhenkov, CEO of Ukrainian leading steel producer Metinvest, who also signed the LOI, and Ukraine’s First Deputy Prime Minister and Minister of Trade and Economy Yulia Svyrydenko, who co-signed the agreement with Primetals Technologies.