German rebar producer Feralpi Stahl, a subsidiary of Italy-based steelmaker Feralpi Group, has announced that it has commissioned the first phase of its new scrap processing plant in Riesa in line with its aim to produce green steel through effective processing of the raw material.
The company invested €20 million in the first phase of the three-phase plant over two years.
According to its statement, Feralpi Stahl will invest more than €220 million in the Riesa plant in the coming years. A large part of the investment will flow into decarbonization measures, such as the construction of a new emission-free rolling mill, which is scheduled to be completed in 2024.