LIBERTY Galati
The Romanian steel plant Liberty Galati, a subsidiary of the global steel producer Liberty Steel, announced the restart of blast furnace No. 5 after a shutdown in May. The resumption of the unit is planned to begin in the coming days. This was discussed at a meeting of Liberty Steel CEO Sanjeev Gupta and Deputy Prime Minister of Romania Mariana Neatsu, the company’s press service reports.
During the meeting, the parties discussed plans to restart the plant in Galati to meet the demand from the local infrastructure and shipbuilding industry, as well as Liberty’s plans to invest in the decarbonization of existing facilities.
The company asked the government for support regarding the distribution of CO2 certificates and existing incentives for energy-intensive consumers. The Deputy Prime Minister stressed the importance of continuing green investments in the enterprise, and noted that the government will cooperate with the company to restart the blast furnace.
The recovery of the unit is facilitated by a significant recovery in demand for thick sheet rolled products and coated rolled products.
«The last 12 months have been extremely difficult for the steel industry in Europe, but we are encouraged by the support we have received from the Romanian government. We are grateful for our cooperation in overcoming these challenges and understanding the important role that Liberty Galati plays in the production of metal products for critical infrastructure, as well as in providing high-quality employment for thousands of people, «comments Ajay Aggarwal, Chairman of the Board of Liberty Galati.
As GMK Center reported earlier, that at the end of May this year, Liberty Steel suspended the operation of its only blast furnace operating in Europe at a plant in Galati (Romania) due to difficult market conditions. It was decided to introduce a temporary period of hot downtime and continue the operation of rolling mills, using slab reserves to ensure profitable and stable production in Galati.
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