CAPTION: German steel producer Salzgitter AG invests 723 million euros in low-CO2 production. (picture alliance/dpa)
German steelmaker Salzgitter AG is investing 723 million euros in low-carbon steel production. The first order for this was placed this week, the company announced. From the end of 2024, a new electric unit is to be set up at the plant in Salzgitter, in the western German state of Lower Saxony, as part of the SALCOS project.
By 2033, the entire steel plant is to be retrofitted with new technology for low-CO2 production. In this way, 95 percent of the annual CO2 emissions amounting to eight million tons will be saved. According to the company, this will correspond to 1 percent of Germany's CO2 emissions.
The investment underscores the company’s ambition to "retain our leadership in decarbonizing the steel industry and to ensure that our plant here in Salzgitter is securely positioned for a long-term future," said Ulrich Grethe, Head of the Steel Production Division.
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