Metinvest Group Donates Billions in First 10 Months of the Ukraine-Russia War
WorldExecutivesDigest | Metinvest Group Donates Billions in First 10 Months of the Ukraine-Russia War | Since last February, when Russia launched its full-scale invasion of Ukraine and kicked off a war that would define 2022, millions of Ukrainians have benefited from widespread charitable and humanitarian aid provided by some of Ukraine’s most prominent philanthropists.
Among these philanthropists is billionaire businessman Rinat Akhmetov who, through his mining and metallurgical company Metinvest Group, allocated more than 2.8 billion hryvnia (about $75.12 million) to help the country during 10 months of war from February to December.
According to a recent press release, “Metinvest has remained a reliable pillar for Ukraine in the economic, defense, and social spheres. The group has spent more than UAH 2.8 billion to bolster the country’s defense capability and support its employees and civilians.”
Metinvest Group is a mining and metallurgical enterprise owned by Rinat Akhmetov and Vadym Novynskyi, with operations in Ukraine, Italy, Bulgaria, the U.S., and the U.K. It’s Ukraine’s largest producer of iron ore and steel. In 2021, the World Steel Association ranked Metinvest 42nd among the top 50 steel companies in the world.
The company was established in 2006 as a subsidiary of Rinat Akhmetov’s System Capital Management (SCM) Group and today controls more than 50% of the iron ore market, 46% of the baking coal market, and 40% of the metal products market in Ukraine. In 2021, the company topped Forbes’ ranking of Ukraine’s largest private companies.
Supporting the Armed Forces of Ukraine
A great deal of the billions in funding has gone to strengthen Ukraine’s defensive capabilities.
As part of the Rinat Akhmetov’s military initiative called Steel Front, 1.5 billion hryvnia was allocated to the needs of the Armed Forces of Ukraine. Metinvest established a systemic supply chain of items critical for military operations, including 25,000 helmets, 150,000 pieces of body armor, medical technology, countless first-aid kits, and 69 specialist prefabricated mobile shelters made from Metinvest steel.
In addition, Metinvest has been supplying hot-rolled sheet steel plates for the protection of off-road vehicles, medical transport, utility vehicles, and other equipment operating in shelling zones. The company more recently developed new armored shields that can protect the operators of large-caliber weapons from enemy fire.
The Armed Forces of Ukraine have also been given 1,700 units of thermal imaging technology, 1,000 drones, 315 vehicles, including ambulances, and 1 million liters of fuel.
To help Ukrainians survive the harsh winter, Metinvest provided heating equipment for both the military and civilians. 2,500 field stoves have also been manufactured, which have already been distributed along with coal and wood to fuel them.
Combat Casualty Care Training
It’s not all about technology and equipment, however. A recent partnership between Rinat Akhmetov’s Metinvest Group and Pulse, another Ukrainian charitable foundation, has led to the development of a new tactical combat casualty care training program for military personnel.
The group has already allocated more than 4 million hryvnia to develop this program and organize training in critical combat zones, and there are plans for additional funding in the future. More than 10,000 servicemen have received this urgent training since March 2022.
“In eight months of the full-scale war, the group has allocated more than UAH 1.4 billion in aid to the Ukrainian army. Aside from gear, tactical equipment, vehicles, and protective structures, we also send medical supplies to the front line. In particular, we have already provided more than 31,500 tourniquets and first-aid kits,” said Metinvest CEO Yuriy Ryzhenkov in a statement published in October.
The Saving Lives Project
Aside from funding military and defense, Metinvest Group has also helped civilians impacted by the war. One of the largest humanitarian initiatives currently operating in Ukraine is the Saving Lives project, which the group created in partnership with Akhmetov’s charitable arm, the Rinat Akhmetov Foundation.
Saving Lives assists vulnerable categories of people in the cities where the group operates, on the front line, and in de-occupied territories. The group’s support covers the Dnipro, Zaporizhzhia, Donetsk, Kirovohrad, Kherson, and Odesa regions. According to Metinvest, it’s already aided almost 350,000 Ukrainians through various initiatives, from the donation of food and hygiene kits to the relocation of Metinvest Group employees who were forced to flee Mariupol.
Hospitals and other healthcare facilities have been provided with funding under the initiative, in addition to medicines and medical equipment. Humanitarian goods have also been delivered to hospitals in Zaporizhzhia, Kryvyi Rih, Kamianske, Pokrovsk, and Avdiyivka under a separate program implemented by Metinvest and the Rinat Akhmetov Foundation. The total amount of assistance to doctors within the framework of the two projects is about 170 million hryvnia, say Metinvest officials.