Japanese steelmaker Nippon Steel has announced that it plans to invest a total of JPY 868.7 billion ($6.05 billion) in electric arc furnaces (EAF) at three domestic plants within its strategy to reduce carbon emissions. The company will receive a JPY 251.4 billion ($1.75 billion) subsidy from the government based on the Green Transformation Promotion Act.
Accordingly, Nippon Steel will build a new EAF at Kyushu Works with an annual production capacity of approximately two million mt, expand EAF capacity to around 500,000 mt annually at Setouchi Works and implement modification works at one EAF with an annual production capacity of 400,000 mt at Yamaguchi Works. The furnaces at Kyushu Works and Setouchi Works are scheduled to commence production in the second half of the fiscal year 2029, while the EAF at Yamaguchi Works is set to restart in the second half of the fiscal year 2028.
