With the completion of the direct reduction plant in Corpus Christi, Texas, the voestalpine Group has set a further milestone in implementing its international growth strategy: today, after around two-and-a-half years of construction, the world’s largest and most state-of-theart plant of its type was officially opened. At EUR 550 million (USD 740 million1), the plant is the largest investment ever made in the US by an Austrian company. Each year it will produce two million tonnes of high-quality HBI (Hot Briquetted Iron, or sponge iron), a sophisticated pre-material used in steel production. The plant is already regarded as an environmental benchmark and is an important first step on voestalpine’s path of reducing CO2 emissions in steel production.
voestalpine is continuing to systematically drive forward its expansion in the NAFTA region. In accordance with Group Strategy 2020, it is intended to increase revenue generated in this region from its current level of EUR 1.2 billion (~USD 1.4 billion) to EUR 3 billion (~USD 3.4 billion) by the business year 2020/21. “Today’s opening of the direct reduction plant in Corpus Christi is an important step for—and into—the future of our company. The new plant will not only secure the Austrian voestalpine sites by supplying premium pre-materials for steel production, it will also contribute significantly to further strengthening our position in the NAFTA region. Furthermore, over the long term it offers us new technological options for decarbonizing steel production,” says Wolfgang Eder, Chairman of the Management Board of voestalpine AG.
A full press release is available to download in English and German.
Video content is available to download. Further content captured at the Opening Ceremony event in Texas on 26th October will be available shortly after the event.
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