Liberty Galati plans to increase its production by 50pc to 3mn mt by the end of 2021 against an output of 2mn mt reported last year, the company indicated in its Q2 2021 earnings report.
During the quarter, Liberty Galati increased its steel shipments by 7pc to 566,000mt compared to 528,971mt in the previous quarter, the Romanian steelmaker reported on Aug 10.
Sales volume increased by 37pc, to RON2.4bn ($576mn) in Q2 2021 from RON1.7bn in Q1 2021 while EBITDA rose by 61pc to RON413mn from RON256mn in the same timeframe under comparison.
Sanjeev Gupta, the executive chairman of Liberty Steel Group, the parent company of Liberty Galati, stated that his next goal was to increase the plant’s production further while pushing the conglomerate’s Greensteel initiative towards achieving carbon neutrality.