Metinvest, an international vertically integrated group of metallurgical and mining companies, has signed a memorandum of cooperation with Primetals Technologies, an international leader in the field of engineering, construction and provision of services for the entire life cycle of equipment for metallurgical enterprises. The document was signed today during the first international forum “Decarbonization of the steel industry: a challenge for Ukraine” in Kiev.
In this memorandum, the parties agreed to implement joint projects in the field of sustainable development of the industry. These include joint R&D initiatives funded by Horizon Europe and the Coal and Steel Research Foundation, related to climate and environmental issues in the steel industry. The cooperation is aimed at working on technological solutions that can be implemented at Metinvest’s production plants, as well as on promising technologies and solutions for the entire supply chain of the metallurgical and mining industries in order to accelerate the decarbonization process of Metinvest. Areas of mutual interest include energy efficient and innovative DRI (Direct Reduced Iron) steelmaking, carbon capture and utilization, and metallurgical gas.
General Director of Metinvest Group Yuri Ryzhenkov
– Metinvest continues to seek opportunities to achieve carbon neutrality in the future. And we believe that working with an experienced technology leader like Primetals Technologies will help achieve the intermediate decarbonization goal and make a significant contribution to achieving climate neutrality with zero greenhouse gas emissions. This is the main goal of the European Green Deal, which is in line with the commitments of the EU and Ukraine on global climate action under the Paris Agreement.
Norbert Petermeier, Executive Vice President and Board Member of Primetals Technologies
– We have been Metinvest’s long-standing technology partners since its inception and are proud to accompany Metinvest on his path to achieving goals with decarbonization. With decades of customer-centric innovation, Primetals Technologies has pioneered disruptive technology and we are confident that this partnership will help shape the future of steel manufacturing.
Primetals Technologies, headquartered in London, UK, is a global leader in the engineering, construction and lifecycle of the metals industry. The company offers a full range of technologies, products and services, contains integrated electrical and automation equipment, digitalization and environmental solutions. The company’s activities cover every stage of the iron and steel production chain – from raw materials to finished products – and contains the latest solutions for the non-ferrous metallurgy sector. Primetals Technologies is a joint venture between Mitsubishi Heavy Industries and partners with approximately 7,000 employees worldwide.
Metinvest is a vertically integrated group of mining and metallurgical companies that manages every link in the supply chain – from the extraction and processing of iron ore and coal to the production and sale of semi-finished products and finished metal products. It includes metallurgical and mining enterprises in Ukraine, the EU, the UK and the USA, as well as a distribution network in all key world markets. The strategic goal of Metinvest is to become the leading vertically integrated steel producer in Europe, ensuring, despite cyclical markets, sustainable growth and profitability, as well as investment returns above industry standards. In 2020, the Group had revenues of USD 10.5 billion and an EBITDA margin of 21%.