Metallurgy, energy, rare gases for the aerospace industry, wind farms and solar panels – all parts of a single business structure managed from Ukraine during an ongoing war. SCM Company unites assets across dozens of countries, with enterprises operating in the United Kingdom, EU member states and the United States. Behind the holding is Rinat Akhmetov – a Ukrainian entrepreneur whose companies continue expanding their international presence despite the loss of significant production capacity in occupied territories.
Metinvest and European Metallurgy
The Metinvest mining and metals group is the largest asset within Rinat Akhmetov company. The group operates enterprises both in Ukraine and abroad. Two plants in Italy have a combined capacity of approximately 1.2 million tons per year – Ferriera Valsider near Verona and Metinvest Trametal. In December 2025, a pipe plant in Romania was added to the European portfolio.
The key project for the coming years is the construction of a new steel plant in Piombino, Italy, with a capacity of 2.7 million tons of steel annually. The facility is being developed through a joint company, Metinvest Adria, with Italian engineering firm Danieli.
According to Bloomberg, Metinvest originally planned to invest over 500 million euros but is now seeking an additional partner to reduce its share to under 300 million, citing wartime risks, the concentration of operations in Ukraine, and bank requirements regarding the ownership structure.
The site is designed not just as a standalone production facility but also as a pilot platform for testing technologies that Rinat Akhmetov’s group will later apply in the reconstruction of Zaporizhstal and Kametstall. The plant will also generate additional demand for products from Ukrainian mining and processing operations.
Digitalization and Artificial Intelligence
Alongside its international expansion, Metinvest is deploying AI solutions at existing sites. At Zaporizhstal, the ForgeCheck tool has been launched for slab quality control, delivering an economic impact of up to $250,000 per year. The system detects defects at the production stage, reducing customer complaints and optimizing energy consumption. According to Metinvest Digital R&D center head Maksym Balaniuk, the company has been testing such solutions since 2021.
DTEK and International Energy Partnerships
Akhmetov also owns DTEK – Ukraine’s largest private energy investor. According to Forbes Ukraine, the company ranked first among the country’s private investors in 2024-2025, with capital expenditures of 57.5 billion hryvnias. Since the start of the full-scale war, DTEK has directed €2.4 billion into Ukrainian energy.
The partner list includes companies from the US and the United Kingdom. A memorandum was signed with American GE Vernova to build a 650 MW gas turbine plant with investment of approximately €900 million. An agreement with Halliburton covers gas extraction technologies. With British firm Octopus Energy, DTEK is implementing Project RISE – installing solar panels and energy storage systems on business and public sector facilities. The involvement of a UK-based company underscores the growing interest of British business in Ukraine’s energy market.
Wind Energy
The flagship project is a 650 MW wind farm in the Poltava region. Investment is estimated at €1.2 billion, and the station will supply electricity to up to one million households. Commissioning is planned for 2029, making it one of the most capital-intensive projects in Akhmetov’s energy portfolio.
UMGI and Private Equity
The UMGI investment company, part of Rinat Akhmetov business, operates on a private equity model. The portfolio is valued at over $500 million, with assets across seven countries. A typical deal involves capital entry of $2 to $30 million with a horizon of up to seven years and a target return of at least 25%. Portfolio companies generated combined revenue of $262 million in 2024, while tax contributions reached UAH 817.8 million in 2025, up 30% year-on-year. ARNOX from the UMGI portfolio has already entered the US aerospace market with technical and rare gas supplies.
Group Scale and Key Metrics
According to Forbes, Rinat Akhmetov net worth stands at approximately $7.8 billion. The companies of Akhmetov Rinat have invested approximately $4.3 billion since the start of the full-scale invasion, including about $1 billion toward restoring destroyed infrastructure. SCM Group’s tax payments for 2025 totaled $2.2 billion, and approximately $8 billion since the invasion began.
Military support for the armed forces is consolidated through the Steel Front initiative, civilian aid for those affected by the war is delivered through the Rinat Akhmetov Foundation, and the Heart of Azovstal project.
A presence in the United Kingdom, the EU and the US, partnerships with major international corporations and diversification across sectors allow the group to maintain operational resilience and continue delivering projects amid the ongoing conflict.