The signing took place during the meeting between the governments of Italy and Ukraine in Rome, as stated in the company's press release.
During the signing ceremony, Metinvest urged the Italian Minister of Enterprises and Production, Adolfo Urso, to recognize the project as having national strategic significance, which could expedite its approval process involving the Council of Ministers.
The project, with a total value of 2.5 billion euros, shows significant progress towards implementation. The Italian state credit-export agency SACE, along with leading financial institutions such as Cassa Depositi e Prestiti, has expressed official interest in providing financial support.
On October 18, 2024, the Administration of the Northern Tyrrhenian Sea Port System confirmed that the project aligns with the strategic development plans for the region. Meanwhile, Metinvest-Adria has entered into an agreement with the metallurgical company JSW Steel Italia S.p.A. to secure access to industrial zones.