Japan-based steelmaker Osaka Steel, a subsidiary of Nippon Steel, has announced that it will make an investment of about JPY 8.7 billion ($59.02 million) to install a new electric arc furnace at its Sakai plant, aiming to save energy and cut its carbon footprint.
The electric arc furnace, which is called EcoArc-light, will be supplied by Japanese engineering company Steel Plantech, and will enable Osaka Steel to increase cost competitiveness and reduce carbon emissions and waste.
EcoArc-light is expected to be commissioned by 2025.