UK-based steelmaker Liberty Steel Group has announced that it has signed an agreement to purchase South Korean steelmaker KG Steel’s Dongbu steel plant in Dangjin and associated equipment.
The Dongbu steel plant comprises of two electric arc furnaces, two single-strand thin slab continuous casters and a hot strip mill. The plant has an annual liquid steel capacity of three million mt and an annual finished steel product capacity of 2.85 million mt. According to Liberty’s technical studies, Dongbu plant has the potential to perform at the highest standards in carbon emissions, energy efficiency, cost, operational flexibility and product range.
The company stated that the purchase of the plant is part of its strategic plan to develop low carbon, modern and flexible steel plants and achieve its ambition to become carbon-neutral by 2030.
In addition, Liberty Steel plans to install the equipment at its Galati plant in Romania. This will enable the business to transition to highly efficient low-carbon electric arc furnace operations several years faster and at significantly lower cost.