Ukrainian steelmaker Metinvest has announced that it has signed a shareholder agreement with Italian plant maker Danieli for their joint partnership in Metinvest Adria S.p.A. 

The agreement, which is expected to take effect in the second half of 2025, establishes the main agreements between the two parties regarding joint management, decision-making, and financing for the construction of the new plant in Piombino, Italy, with an annual production capacity of 2.7 million tons.

Metinvest Group CEO Yuriy Ryzhenkov said the agreement ensures the company's sustainable development amid the unstable global market environment and the years-long war in Ukraine.  

Metinvest Adria and Danieli have also signed a separate contract for the development of the Piombino plant’s basic works, which includes the construction of electric arc furnaces, as well as Danieli QSP-DUE steel casting and rolling modules.