Steel News

Metinvest Announces Multi-Billion-Dollar Commitment to Decarbonization

1/14/2022 - Ukrainian steelmaker Metinvest will spend US$20–30 million in the coming years to replace its aging blast furnaces with electric arc furnace (EAF) technology, reports the Reuters news service.

In a recent interview with Reuters, Metinvest chief executive Yuriy Ryzhenkov said the company will begin transitioning four coal-powered blast furnaces to direct reduced iron–fueled EAFs in 2028. The technology upgrade is part of Metinvest’s goal to reduce its greenhouse gas emissions by 15% by the year 2030 and by 40% in 2040, Reuters said.

Read the full article from Reuters here.