Liberty Steel to acquire Korean steel plant
Liberty Steel to acquire Korean steel plant
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Liberty Steel Group, a business unit of the United Kingdom-based GFG Alliance, has signed an agreement to purchase the Dongbu steel plant and associated equipment from South Korea-based KG Steel.
According to a news release from Liberty Steel, the Dongbu plant in Dangjin, South Korea, includes two modern Consteel 160-metric-ton electric arc furnaces (EAFs); two single-strand, vertically curved thin-slab continuous casters; and a hot-strip mill. The plant has an installed liquid steel capacity of 3 million metric tons per year and a finished steel products capacity of 2.85 million metric tons per year.
Pending final technical assessment and further diligence, Liberty says it plans to install the Dongbu equipment at its Galati plant in Romania. Liberty says this will allow it to transition to low-carbon EAF operations “several years faster than previously planned and at significantly lower cost compared with alternative options analyzed.” The company did not share the alternative options it has analyzed.
Liberty says it has conducted technical studies on the plant that indicate that it has the potential to perform at high standards against key performance indicators, such as CO2 emissions, energy efficiency, cost, operational flexibility and product range.
“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,” says Sandip Biswas, chief investment officer at Liberty Steel Group. “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 steelmaking assets and distribution networks close to market.”
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Source: Recycling Today
Liberty Steel to acquire Korean steel plant
<![CDATA[Liberty Steel Group, a business unit of the United Kingdom-based GFG Alliance, has signed an agreement to purchase the Dongbu steel plant and associated equipment from South Korea-based KG Steel. According to a news release from Liberty Steel, the Dongbu plant in Dangjin, South Korea, includes two modern Consteel 160-metric-ton electric arc furnaces (EAFs); two single-strand, vertically curved thin-slab continuous casters; and a hot-strip mill. The plant has an installed liquid steel capacity of 3 million metric tons per year and a finished steel products capacity of 2.85 million metric tons per year.Pending final technical assessment and further diligence, Liberty says it plans to install the Dongbu equipment at its Galati plant in Romania. Liberty says this will allow it to transition to low-carbon EAF operations “several years faster than previously planned and at significantly lower cost compared with alternative options analyzed.” The company did not share the alternative options it has analyzed.Liberty says it has conducted technical studies on the plant that indicate that it has the potential to perform at high standards against key performance indicators, such as CO2 emissions, energy efficiency, cost, operational flexibility and product range. “The purchase of this state-of-the-art steel plant from KG Steel…