Metinvest Adria, a joint venture between the Ukrainian steel producer Metinvest and the Italian company Danieli, is working to attract a third investor in its project to build a new steel mill with electric arc furnaces in Piombino, Italy, which will produce hot-rolled coils (HRC).
According to Italian media reports, construction work may be postponed to the spring of 2027, which implies a delay of about eight to ten years. months compared to the original schedule. It is reported that the possible delay is due to both the complexity of the permit process and the need to finalize the financial structure of the project. The total investment is estimated at around 3.2 billion euros, including government funding of 285 million euros. евро.
In particular, it is reported that the pool of banks involved in financing the project demanded that the shareholder structure be changed. strengthening by attracting a third financial or industrial partner.
Luca Villa, CEO of Metinvest Adria, stated that the company has already received several expressions of interest from infrastructure investment funds, industrial players associated with the steel production chain, as well as Italian and international manufacturers steel. The company plans to complete this process by the end of October.
Meanwhile, the environmental authorization procedure is moving forward. Metinvest Adria reported that on August 11 and 20, it provided additional documentation requested by the regional authorities of Tuscany in response to a request for clarification and additional information sent on July 20 as part of the Environmental impact assessment (EIA) verification procedure.
According to the company, the procedure is progressing in accordance with the deadlines set by national and regional regulations. After submitting additional documentation, the competent authority has 45 days to make a decision. The current deadline for completing this stage is October 4, 2026, subject to an extension in exceptional cases provided for by law.
Metinvest Adria also clarified that the submission of additional documentation will not entail a new 30-day public consultation period, as this stage has already been completed.
The next important stage is scheduled for October 20, when the Italian Ministry of Entrepreneurship and Made in Italy (Mimit) will hold a new meeting to review the progress of the project in Piombino.
As previously reported by SteelOrbis, the Metinvest Adria project is one of the key elements of a broader plan to revive the Piombino steel complex, along with the production restructuring process involving JSW Steel Italy.
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