Austrian steelmaker voestalpine has reached the next stage of approval to work on climate friendly steel production in Austria, following on from the project being greenlit a year ago.
An investment of around €1.5 billion is being made into constructing one electric arc furnace at each of the two sites, Linz and Donawitz. As part of its ‘greentec steel’ plan, construction will start in 2024, and commissioning of the two units will take place in 2027. This will allow the group to reduce its CO2 emissions by up to 30% from 2027, according to a press release.
‘‘greentec steel is Austria’s largest climate protection program. It will allow us to save five percent of Austria’s entire annual CO2 emissions from 2027.''
Herbert Eibensteiner, CEO of voestalpine AG
‘‘greentec steel is Austria’s largest climate protection program. It will allow us to save 5% of Austria’s entire annual CO2 emissions from 2027. We need to start this year if we are to meet our target of commissioning the two new electric arc furnaces in Linz and Donawitz in 2027’’, commented Herbert Eibensteiner, CEO of voestalpine AG.
''This investment will secure the future of our two steel production sites in Linz and Donawitz over the long term, and with it the future of our group.’’
Dr. Wolfgang Eder, chairman of the supervisory board
‘‘The supervisory board has closely examined the voestalpine decarbonization plan presented by the management board, and unanimously gave it their enthusiastic approval. This investment will secure the future of our two steel production sites in Linz and Donawitz over the long term, and with it the future of our group,’’ said Dr. Wolfgang Eder, chairman of the supervisory board.