Flat steel producer New Zealand Steel has announced that it will build a new electric arc furnace at its Glenbrook steel mill within the next three years.
The investment of $300 million in the new furnace, which will be co-funded by the government, will use renewable electricity and local scrap supply.
The given investment is part of the company’s aim to halve its carbon emissions and secure the future of domestic steelmaking in New Zealand.
The furnace is expected to be commissioned by 2026.
