OREANDA-NEWS. October 9, 2012. The electric steel melting complex Interpipe Steel the first metallurgical plant built from scratch since Ukraine became independent, was opened in Dnepropetrovsk. President of Ukraine Victor Yanukovich participated in the opening ceremony.

INTERPIPE STEEL is the largest single private investment since Ukraine became independent. The mill combines innovative steel melting technologies from one of the top three metallurgical equipment producers, Italian Danieli, and works on the basis of international best practices in steel production. This combination creates a new metallurgical production philosophy for the 21st century a new step for the steel industry.

This steel mill's state-of-the-art equipment and green technology enable Interpipe to replace outdated open hearth steel production. This will reduce energy consumption per tonne of steel by 2,2 times, decrease emissions by 2,5 times, and shorten the consumption of natural gas by 60 million cubic meters. The mill will create 700 new jobs.

The launch of INTERPIPE STEEL have become a new reference point in the cultural history of Ukraine and the city of Dnipropetrovsk. Along with the mill, the city've got a new symbol Olafur Eliassons art project Dnipropetrovsk Sunrise. It consists of five large scale masterpieces, conceived by the artist specifically as permanent installation and integral part of the mill. Dnipropetrovsk Sunrise is a metaphor of the industrial renaissance of Ukraine.

When we thought about the construction of a new mill, we had a dream to create the most up-to-date metallurgical production in Ukraine, Victor Pinchuk, the founder of Interpipe, comments. But in the course of our work we realized that we are able to do more. And we have created a mill, combining innovative technologies and production culture with contemporary art. This mill is the first and only one of its kind, built for the workers, the city, and society. And for me, the mill is also a tribute of honor to generations of Ukrainian metallurgists.

Metallurgy is one of the basic industries of the Ukrainian economy. But ask yourself: where do todays graduates want to work? They still dream of being lawyers or bankers but not engineers, Alexander Kirichko, Interpipe CEO, says. Im sure we have created a mill where specialists with university-degree, who are ready to build the metallurgy of the next generation, would like to work. The mill is modern and dynamic, just like our employees. Our next objective is to have a line of young and highly educated people at all mills of our company.