FRANKFURT (Dow Jones)–Thyssenkrupp is moving forward with its plans to produce low-carbon steel. The centerpiece, a hydrogen-powered so-called direct reduction plant, is to be built by the DĂĽsseldorf-based SMS Group at the Duisburg steel site, as the steel subsidiary has now announced. The order has a volume of billions and also includes two so-called melters. The plant is expected to save more than 3.5 million tons of greenhouse gases annually in steel production in the future.
Solid sponge iron is produced from ore in direct reduction plants. This must be melted down for further processing. Salzgitter is also planning such a plant. Thyssenkrupp has applied for funding for its project. Approval for this from Brussels is expected by the middle of the year.
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(END) Dow Jones Newswires
February 24, 2023 08:00 ET (13:00 GMT)
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