U.S. Steel Košice to invest €1.3bn
U.S. Steel Košice has applied for an Environmental Impact Assessment for its €1.3bn investment in electric-arc furnaces. It plans to replace two of its three coal-fired furnaces with electric ones by 2025 in order to reduce emissions. Consumption of iron ore from Russia and Ukraine would also be reduced, as scrap metal would be used instead. The new furnaces would also allow the production of higher value-added products. Its total production capacity would remain at 4.5m tons. The 9,500-strong company has indicated it would only go on with the project if the government provides subsidies; the government has already promised support. (teraz.sk) The steel mill reported a €874m profit for 2021 following €120m losses in 2019-20.
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