Germany – Thyssenkrupp has established the framework for more than two billion euros in investments to enter the green revolution.
By allocating the necessary capital resources for the development of the first direct reduction plant at the Duisburg site, the Executive Board of thyssenkrupp created the necessary conditions for this. The thyssenkrupp Supervisory Board concurs with this choice. Public money for the big project is still required.
Thyssenkrupp Steel’s climate objectives have been dramatically boosted along with the expansion in plant capacity.
The first facility will be bigger than anticipated, with a direct reduced iron capacity of 2.5 million metric tons. By doing this, thyssenkrupp is hastening the start of low-CO2 steel manufacturing and significantly advancing the accomplishment of national and European climate goals. At the same time, the development of the hydrogen economy is expedited and consideration is given to the rising need for steel that is climate-friendly.
Direct reduction facilities fuelled by hydrogen will take the place of the blast furnaces that currently burn coal. The downstream, particularly designed melting units will first liquefy the generated iron, which will have been immediately reduced with hydrogen, to create high-quality hot iron. The current plant structure, including the steel mills, can accommodate all the following manufacturing phases, making the changeover efficient. The complete premium product line may be produced in the new plant design with low CO2 emissions without sacrificing quality.
The first direct reduction plant with downstream melters will provide our customers with over two million metric tons of low-CO2 premium steel per year in the near future, which is significantly more than initially anticipated, according to Bernhard Osburg, Chairman of the Executive Board of thyssenkrupp Steel Europe AG.