decarbonization - Latest news GMK Center

Existing steel and cement plants will require $627 billion of additional funds

Arinos Solar Park will supply 30% of its energy output to the company's steel mills in Brazil

Otherwise, CO2 allowance prices could make the industry uncompetitive

Construction of the unit with a capacity of 1.6 million tons of steel per year is planned to begin in 2024

Over the past two years, the parties have been unable to reach firm agreements

Such values ​​can be achieved with a target range of 90% emission reduction

Hydrogen is considered as the key energy source for decarbonization of pelletizing production

The company noted that the application for grant funding through the EU Modernization Fund was approved

The steel sector is aiming to peak carbon emissions by 2030

In 2019, DRI production amounted to 112 million tons, and in 2022 – about 125 million tons

Target indicators will also apply to the steel industry

The company will no longer purchase carbon emission allowances during the current fiscal year