Written by Bettina Nemes
Liberty Steel Group and China’s CISDI Engineering Co. have entered into a partnership agreement.
This is intended to enable Dunaferr to switch from coal-based steel production to electric arc furnace technology. The plan is to install a new electric arc furnace with a capacity of 150 t, which will be supplied by CISDI. The investment still needs to be approved by the EU regulator.
“We are witnessing the signing of an agreement that will lay the foundation for green steel production in Dunaújváros, the future of the steel industry,” said Economy Minister Márton Nagy in Budapest on Wednesday. As part of the collaboration, the two companies will create and implement a decarbonization plan, reducing direct carbon emissions by up to 80%.
Nagy recalled that Dunaferr was on the verge of collapse in November and that in December the plant was no longer even supplied with coal. Thousands of jobs were at risk due to the negligence of previous management.
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