Liberty Steel Group signs agreement to purchase South Korean steel plant

The Dongbu plant in Dangjin, South Korea, comprises of two Consteel 160t electric arc furnaces; two single strand, vertically-curved thin slab continuous casters; and a hot strip mill. The plant has an installed liquid steel capacity of 3Mt/yr and a finished steel products capacity of 2.85Mt/yr.

Liberty intends to install the equipment at its Galati plant in Romania, which the company claims will enable it to transition to low carbon electric arc furnace operations several years faster than previously planned, and at significantly lower cost compared with alternative options analysed

Sandip Biswas, chief investment officer, Liberty Steel Group, said: “The purchase of this state-of-the-art steel plant from KG Steel is part of our strategic plan to develop low carbon, modern and flexible steel plants and achieve our ambition to become carbon neutral by 2030. From our technical assessment of the plant, we believe it can be benchmarked to the highest operational efficiency levels and integrated into our existing asset footprint thus combining our upstream advantages with efficient steel making assets and distribution networks close to market.”