- November 25, 2022
- Press Release
LIBERTY signs agreement to purchase plant and equipment from KG Steel
LIBERTY Steel Group (“LIBERTY”) has today signed an agreement to purchase the Dongbu steel plant and associated equipment from South Korean steel company, KG Steel.
The Dongbu plant in Dangjin, South Korea, comprises of: two modern, Consteel 160t electric arc furnaces; two single strand, vertically-curved Thin Slab continuous casters; and a Hot Strip Mill. The plant has an installed liquid steel capacity of 3 million tonnes per annum (mtpa) and a finished steel products capacity of 2.85mtpa.
Technical studies conducted by LIBERTY indicate that the Dongbu plant has the potential to perform at the highest standards in the sector against KPIs including CO2 emissions, energy efficiency, cost, operational flexibility and product range.
Pending final technical assessment and further diligence, LIBERTY intends install the equipment at its Galati plant in Romania. This will enable the business to transition to highly efficient low carbon electric arc furnace operations several years faster than previously planned and at significantly lower cost compared with alternative options analysed.
Sandip Biswas, Chief Investment Officer, LIBERTY Steel Group, said: “The purchase of this state of the art steel plant from KG Steel is part of our strategic plan to develop low carbon, modern and flexible steel plants and achieve our ambition to become carbon neutral by 2030. From our technical assessment of the plant, we believe it can be benchmarked to the highest operational efficiency levels and integrated into our existing asset footprint thus combining our upstream advantages with efficient steel making assets and distribution networks close to market.”
Tags
Latest News
View All
GFG Foundation and LIBERTY Galati proud to support a second dual learning class
GFG Foundation and LIBERTY Galati joined the students of the GFG Foundation programme at the official opening of the school...
Read More
The Galati Robotics Club will be back next summer
LIBERTY Galati and GFG Foundation will run the highly successful Robotics Club, their educational project dedicated to the children of...
Read More
LIBERTY Galati launches a Lean Green Belt 6 Sigma training programme
LIBERTY Galati, the largest integrated steel producer in Romania, continues its strategy to upskill its team and increase production flexibility...
Read More
LIBERTY Galati invests RON 150 million in a modern accelerated cooling line for its Heavy Plate Mill
LIBERTY Galati, the largest integrated steel producer in Romania, continues its strategy to expand its portfolio of high value-added products...
Read More
LIBERTY Galati and GFG Foundation launch a new dual learning class at “Paul Dimo” Technological High School
GFG Foundation and LIBERTY Galați, together with Rewise Learning, continue the STEM-based learning programme at the “Paul Dimo” Technological High...
Read More
LIBERTY launches the GRADUATES programme
LIBERTY Steel Group is looking for the next generation of leaders and specialists by launching its first GRADUATES programme, designed...
Read More
GFG Foundation and LIBERTY Galati celebrate over 650 top students from Galati
GFG Foundation Romania and LIBERTY Galati have yesterday celebrated the achievements of over 650 top students from Galati, at the...
Read More
GFG Foundation and LIBERTY Galati to launch the Summer Robotics Club
GFG Foundation and LIBERTY Galați will launch the Summer Robotics Club, a new educational project for their employees’ children. During...
Read More
GFG Foundation Romania and LIBERTY Galati show their support for educational excellence
GFG Foundation Romania and LIBERTY Galati are showing their support for the Galati community and the education of the city’s...
Read More
LIBERTY Galati invests in coated tubular product line
LIBERTY Galati, the largest steel producer in Romania, has extended its high value-added product portfolio into coated tubular products, following...
Read More