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BRIEF-Algoma Steel Announces Final Investment Decision For Electric Arc Steelmaking

reuters.com · 11/11/2021 07:34
BRIEF-Algoma Steel Announces Final Investment Decision For Electric Arc Steelmaking

- Algoma Steel Group Inc ASTL.TO:

  • ALGOMA STEEL ANNOUNCES FINAL INVESTMENT DECISION FOR ELECTRIC ARC STEELMAKING

  • ALGOMA STEEL - BOARD AUTHORIZED CO TO CONSTRUCT TWO NEW ELECTRIC-ARC-FURNACES TO REPLACE EXISTING BLAST FURNACE, BASIC OXYGEN STEELMAKING OPERATIONS

  • ALGOMA STEEL GROUP - TRANSFORMATION IS EXPECTED TO REDUCE ALGOMA'S CARBON EMISSIONS BY APPROXIMATELY 70%

  • ALGOMA STEEL GROUP - FOLLOWING TRANSFORMATION, FACILITY IS ANTICIPATED TO HAVE ANNUAL RAW STEEL PRODUCTION CAPACITY OF ABOUT 3.7 MILLION TONS

  • ALGOMA STEEL GROUP INC - PLANS TO INVEST APPROXIMATELY CDN$700 MILLION IN EAF TRANSFORMATION

Source text for Eikon: ID:nGNX3fQ37f

Further company coverage: ASTL.TO


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