Within the scope of its aim to reduce carbon emissions in the region, Ukraine-headquartered mining and metallurgical group Metinvest has announced that it intends to invest over $3.5-4 billion in the construction of a new steelmaking complex.
According to the announcement of Yuri Ryzhenkov, CEO of Metinvest, the company is expected to build a new electrometallurgical plant, including two direct reduced iron (DRI) facilities, two electric arc furnaces (EAFs) and two continuous casting machines (CCMs) in order to produce low-emission steel. The design production capacity is around 4-4.5 million mt of steel, SteelOrbis has learned. Replacing sintering, coke-chemical, blast furnace and converter production processes with DRI technology, the company expects to lower associated CO2 emissions. Afterwards, the replacement of natural gas with pure hydrogen will enable the company to reduce greenhouse gas emissions to zero, the company believes.