Voestalpine
Austrian steelmaker Voestalpine has shut down blast furnace No. 6 in Linz for an 80-day overhaul. This was announced by the company’s CEO Herbert Eibensteiner during a quarterly conference, Kallanish reports.
The modernization of the unit involves an investment of €30 million. Upon completion of the work, a similar overhaul will begin at the blast furnace in Donawitz.
Blast furnace No. 6 is not subject to conversion to green technologies during the first stage of the company’s transition to DRI/EAF steel production this decade. At the same time, the investment will keep it in operation until at least 2035.
Voestalpine’s revenues in the first quarter of fiscal year 2024/2025 (April-June) amounted to €4.1 billion, compared to €4.4 billion in the same period of the previous fiscal year. EBITDA decreased by 16.5% y/y – to €417 million, mainly due to the sale of Buderus Edelstahl. Net profit fell to €150 million compared to €213 million a year earlier.
In early July, Voestalpine announced that it had successfully secured a €300 million loan from the European Investment Bank (EIB) for research and development of green steel production. The main focus will be on greentec steel, a project to reduce CO2 emissions by 30% in 2029 compared to 2019 by partially replacing blast furnaces with electric arc furnaces powered by green electricity.
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