Ukrainian company would like to buy Hungary’s biggest steelworks

The Ukraine-based Metinvest Holding would like to buy Dunaferr, Hungary’s biggest steelworks.

That information was published on Dunaujvaros.com, the official website of the local government of Dunaújváros, where the plant of Dunaferr is located. Currently, the raw material is provided by British Liberty. Based on the information on the website, the British company signed an agreement with the government about the operation of the steelworks during its liquidation process.

Metinvest’s CEO, Yuriy Ryzhenkov, wrote an email expressing his interest in buying Hungary’s biggest steelworks on 15 December, when the liquidation began. He sent a letter written in English to PM Viktor Orbán, finance minister Mihály Varga, Márton Nagy, Hungary’s economic development minister and Péter Szijjártó, the Hungarian foreign minister.

The two-page-long letter highlights that they would like to operate the steelworks and are aware of the high costs of that (estimated at around 150 million euros currently). Furthermore, they would like to reduce its emission by 55 percent.