Ukrainian business, industry and infrastructure have suffered greatly during the full-scale war. Rinat Akhmetov faced huge losses. The Azovstal plant in Mariupol was destroyed in the fighting. This enterprise produced one-fifth of all steel in Ukraine. Now only ruins remain of the industrial giant. The second Mariupol metallurgical plant was also seriously damaged. The Avdiivka coke plant, Europe’s largest, has stopped working due to intense fighting in the city’s neighbourhood.
‘My business has suffered the most from the war,‘ Akhmetov said in answers to reporters’ questions. His energy facilities are regularly hit by missile strikes and many production facilities are damaged or located in occupied territories.
Helping the country and changes in the media business
In mid-2022, Rinat Akhmetov transferred licences for all his media assets, including TV channels and print media, to the state. This was done in accordance with the new wartime legal requirements. Despite the losses, the businessman channelled more than 11,3 billion hryvnias to support Ukraine. These funds went to:
- Defence needs.
- Humanitarian aid to the victims.
- Support for internally displaced persons.
- Protective equipment for military equipment.
- Medical assistance to the military.
By this indicator, it has become one of the largest private donors for the Ukrainian army and civilian population. Charity aid is received through the specially created Humanitarian Headquarters, which has been working since the first days of the war. More details here https://www.nytimes.com/2024/01/15/world/europe/ukraine-oligarchs-crackdown.html
DTEK is also actively repairing damaged power lines and transformer substations. After each massive shelling, the company’s specialists go to the sites of damage and restore power supply, often risking their lives under fire.
Role in rebuilding the country
Rinat Akhmetov explicitly stated that he would participate in the reconstruction of the country after the war. ‘As Ukraine’s largest investor, SCM will not stay on the sidelines,’ he said of his main company. This statement he backs up with real actions – even in the conditions of war, his enterprises continue to operate wherever possible. Preserving jobs and paying salaries.
Experts estimate that after the fighting ends, Ukraine will need hundreds of billions of dollars in investment to rebuild. SCM Business Group, despite the military losses, remains one of the largest in the country and is able to attract significant resources for this process.
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