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The parties signed a contract for the completion of a full technical and economic feasibility study

Liberty Steel’s Hungarian subsidiary, Liberty Dunaújváros, formerly known as Dunaferr, has signed a contract to complete a full feasibility study for the installation of a modern electric arc furnace (EAF) with China’s CISDI Engineering. This is stated in the company’s press release.

The development of the feasibility study follows a comprehensive technical analysis and engineering study conducted by NPT, a leading Swiss engineering services company.

The green transformation of Liberty Dunaújváros includes the installation of a state-of-the-art EAF, as well as the modernization of secondary metallurgy and the hot strip mill. The company expects to supply high-quality products to the Hungarian automotive sector.

The company’s new electric arc furnace is expected to have a capacity of more than 1.5 million tons per year and will be supplied by China’s CISDI. The unit is said to allow for a flexible approach to raw material loading and incorporates new energy-efficient technologies.

«The new furnace will significantly enhance the competitiveness of the Dunaújváros operation and reduce direct CO2 emissions by 80%,» the company said in a statement.

The project is supported by the Hungarian and Chinese governments and will be financed by Chinese banks led by CITIC Bank and supported by the China Export Credit Insurance Corporation (Sinosure).

Hungarian, European, and Chinese experts, as well as Liberty experts, will be involved in the development of the feasibility study. The detailed requirements for the electric arc furnace, its interaction with the systems of the plant’s existing production lines, raw material supply and expected environmental impact will be determined.

In addition, the feasibility study will be used to select construction partners and resolve all issues beyond the scope of the main contract with the equipment manufacturer.

In January2024, Liberty Steel announced the restart of part of its rolling capacity at the recently acquired Hungarian steel plant Dunaferr (Liberty Dunaújváros). As part of its production program for 2024, Dunaferr has restarted rolling mills and a galvanizing line that produces galvanized steel. This strategic step marks the first part of a 100-day restructuring plan.