By KYIV. Nov 18 (Interfax-Ukraine) – Metinvest mining and metallurgical group intends to receive compensation from the Russian Federation for enterprises destroyed as a result of the war and reinvest it to the development of Ukrainian assets.
"We are pretty sure that we should get all the damages from the Russians and reinvest it in the Ukrainian plants to restore operations," Metinvest CEO Yuriy Ryzhenkov said on Ian King Live on Sky News in the UK.
According to him, the company helps Ukraine defend itself against Russian attacks. He also shared the latest news on the current activities of the group’s enterprises and presented on the air the steel bracelet "Azovstal. Symbol of Perseverance," a joint project with the UNITED24 presidential charity platform to raise funds for the Armed Forces of Ukraine. Metinvest’s participation in the project is part of Rinat Akhmetov’s military initiative Steel Front.
"From the first days of this full-scale invasion, both of our shareholders (Rinat Akhmetov and Vadim Novinsky) decided our company should fully support the Ukrainian Armed Forces… In part of just using our equipment to build the defense lines, we also designed the new ways to produce armored steel, which is now used in bullet-proof vests. We have supplied more than 150,000 bullet-proof vests to the Ukrainian army, territorial defense. We have also developed new steel bunkers that can be used in the field to keep the soldiers warm and protected from the shelling," the top manager said.
In addition, the group purchases and supplies trucks, armored vehicles, thermal imaging equipment, radios, etc. to the army. A large number of vehicles and equipment needed by the Ukrainian Defense Forces in the field.
Asked what major assets of the company are currently operating in Ukraine, the CEO stated that at present the group has two steel mills in Ukraine: one in Zaporizhia, the other in Kamianske. Both of them are now operating, their capacities are loaded by about 50-60%. The company can produce armored plates, steel bulkers, etc.
In relation to the group’s foreign assets, they experienced some difficulties at first, mainly due to the fact that they relied on semi-finished products from Azovstal in their work.
"Since then, we have diversified the sources of semi-finished goods that we are using for rolling. For example, here in the UK, we have slabs that have been supplied by British Steel by now, ThyssenKrupp. In Italy, it’s ADI. So we’ve found varied suppliers that can supply us with the necessary volumes and necessary products," the CEO said.
According to him, in the UK everyone works under the same conditions. And the steel industry is as competitive as it can be.
"But when it comes to the support, and we are all colleagues, and we understand how we can support each other," Ryzhenkov said.
Answering a question about the situation in Mariupol, which is under occupation, he said that little is known in the group about what is happening in Mariupol now.
"There are still quite a lot of people there, and we do have daily contacts with them, but there’s very little that they can say what is going on in the city. What I understand, the power supply is unstable, there is no water, no heating, it’s a humanitarian tragedy right now in the city," the CEO of the company said.
