Ukraine's steel industry facing catastrophe – Metinvest
The situation in Ukraine's steel industry is currently catastrophic, largely because of airstrikes: five furnaces have been destroyed at plants belonging to the Metinvest group, and two at ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk Oblast); the plants are not operating, Oleksandr Vodoviz, head of the office of Metinvest's CEO, said at the Forum of Economic Resilience held under the auspices…
Ukraine's steel industry is facing a catastrophic situation due to airstrikes, with five furnaces destroyed at Metinvest group plants and two at ArcelorMittal Kryvyi Rih. Oleksandr Vodoviz, head of Metinvest's CEO office, stated at the Forbes Ukraine Forum that absolutely every plant has been hit. The Petrovskyi plant, Dnipro Metallurgical Plant (DMZ), and Interpipe have also been struck multiple times.
During September, Ukraine did not smelt a single ton of steel for the first time in 100 years, and Metinvest's plants remain shut down. Restarting a furnace can cost around $50 million and repairing it is an enormous expense. Metinvest has not calculated the scale of investment needed for recovery, but it's estimated in billions of dollars.
The company has sought help from various ministries, but the offered assistance was minimal - 2 million to 5 million hryvnias. Metinvest is not planning to invest in restoration at the moment, as they don't understand how the situation will unfold.
Written by urgent.news from New Voice of Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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