The Czech Republic’s largest steelmaker Třinecké Železárny has announced that it is postponing the completion date of the largest decarbonization investment in its history with completion now expected no earlier than 2030 instead of the previously announced 2028. This investment would lead to a gradual reduction in carbon dioxide emissions by 55 percent compared to 1990.
The postponement includes key changes in steelmaking, including the construction of an electric arc furnace and infrastructure. Until the completion, it will actively negotiate with the government of the Czech Republic and the European Union to secure adequate support for the successful implementation of the project.
The main reasons for the delay in the implementation of the electric arc furnace are the lack of public support, uncertainty about the future direction of Europe in the rules related to the Green Deal, the current negative situation in the steel market, and unclear rules for protecting the market from imports from countries with lower steel production costs.
