Germany-based steelmaker Thyssenkrupp has announced that it will invest more than €2 billion in the construction of the first direct reduction plant at the Duisburg site for low-carbon steel production.
The plant which will have an annual production capacity of 2.5 million mt of direct reduced iron will reduce carbon emissions by 3.5 million mt. The plant is scheduled to start production in 2026.
As part of its transformation project, Thyssenkrupp’s coal-based blast furnaces will be replaced by hydrogen-powered direct reduction plants. The company plans to produce around five million mt of low-carbon steel by 2030.