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Liberty Steel to acquire Hungary-based steelmaker-金属展-冶金展-2024广州巨浪国际金属暨冶金工业展览会-巨浪展览-2024 China(Guangzhou)Int’l Metal &Metallurgy Exhibi
tion
10/9/2023 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo |
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The European Commission has approved Liberty Steel’s acquisition for sole control of Hungary-based steelmaker ISD Dunaferr and coke supplier ISD Kokszoló.
This announcement comes two weeks after Liberty Steel released plans to replace the Dunaferr complex blast furnace with an EAF.
In the latter announcement, Liberty named China-based China’s CISDI Engineering Co. and the Hungarian Ministry of Economic Development as collaborators on the project.
Liberty has stated that the conversion plans ‘are subject to EU regulatory approval.’ Should the project move forward, it will entail the installation of a 150-ton EAF capacity to be supplied by CISDI. “The state-of-the-art furnace carries the latest in energy efficient technology and allows for flexibility in charge materials,” says Liberty.
“We’re transitioning to lower carbon technologies at speed across our global operations and we intend to do the same at Dunaferr.”
Sanjeev Gupta, Liberty’s executive chair
“We’re transitioning to lower carbon technologies at speed across our global operations and we intend to do the same at Dunaferr,” said Sanjeev Gupta, Liberty’s executive chair. “We look forward to developing these plans with CISDI and the Ministry of Economic Development to ensure we put the Dunaújváros steelworks on a sustainable, competitive pathway as quickly as possible.”
A memorandum of understanding (MOU) signed by the three organizations indicates Liberty and CISDI ‘will bear the primary responsibility for the technical aspects of the project, including design, engineering, procurement of equipment, and technology services.’
“We are witnessing the signing of an agreement that will lay the foundation for green steel production in Dunaújváros, which is the future of the steel industry.”
Márton Nagy, Hungary’s minister of economic development
“We are witnessing the signing of an agreement that will lay the foundation for green steel production in Dunaújváros, which is the future of the steel industry,” stated Márton Nagy, Hungary’s minister of economic development.
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