[Metinvest Seeks New Investor for €3.2 Billion Green Steel Mill Project in Italy]

Published: Jul 7, 2026 13:40

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Metinvest is seeking a new financial or industrial partner for its €3.2 billion green steel mill project in Piombino, Italy, developed by its joint venture Metinvest Adria, to reduce financial exposure and improve bankability amid the ongoing conflict in Ukraine. The electric arc furnace (EAF) facility is designed to have an annual production capacity of over 2.7 million metric tons of hot rolled coils (HRC). The project has already secured significant institutional backing, including €285 million in incentives from Invitalia and an additional €92 million from the Italian Ministry of Enterprises for port infrastructure. The potential entry of a new investor is intended to strengthen the project's risk profile, ensuring the successful execution of one of Europe's largest low-emission steel production facilities without altering the original industrial scope.

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