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GFG Alliance to Invest in Galati and Ostrava

Steel News - Published on Thu, 20 Feb 2020

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Reuters reported that GFG Alliance will invest 1 billion euros in its Galati operations in Romania and 750 million euros at its Ostrava plant in the Czech Republic to modernise its emissions-heavy European steel plants and boost production, it said on Wednesday. Some of the cash will go towards installing electric furnaces, which can reduce emissions by around 60%. GFG global chief operating officer Neil Barrell told Reuters. “In the short term... the two plants will run in tandem, so we wouldn’t need to embark on any labour conversations. He said the investment at Galati would increase production to 4 million tonnes per year over time, while for Ostrava, the output increase could be more than 50%.”

GFG did not give current output figures, but said Galati has capacity of 3.6 million tonnes and Ostrava of 3 million.

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Posted By : Rabi Wangkhem on Thu, 20 Feb 2020
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