GFG Alliance accelerated its CN30 (carbon neutral by 2030) investment program and implemented a productivity drive targeting up to 30pc overall efficiency gains globally. GFG Alliance seeks to put businesses on a firm economic footing and adjust to the new market environment.
The pandemic underlined the need for modernized plants that provide for flexibility and operational efficiencies. At the core, GFG Alliance is making investments in Green Steel and Green Aluminums technologies with the goal of achieving carbon neutrality by 2030.
As part the CN30 program, investment plans are being prioritized across GFG’s three primary steel operations for delivery over the next 3-5 years. The technological shift will use higher volumes of local steel scrap and emit less carbon dioxide. Long term hydrogen technology will be adopted by GFG Alliance for DRI manufacturing as the cost becomes economically feasible. Developing sources of renewable energy is also a focus.
GFG has signed agreements with the Romanian government to construct 2.5mn mt annual DRI facility and two electric arc furnaces at Liberty Steel Galati. The national gas company, research, financial and educational institutions were also tapped in support of the project. The combined production of the EAFs will be close to 4mn mt.
Liberty Steel Ostrava will be Europe’s first hybrid furnace, a blend of electric arc and blast furnace. The Ostrava site is an integrated steel mill with a production capacity of about 3.6mn mt annually.
Davis Index reported on the company’s plans at Whyalla Steelworks, Australia. Whyalla will also transition from its blast furnace to an EAF, incorporate a DRI facility and a state-of-the-art rolling mill.
As part of GFG’s aim to deliver up to 30pc in overall efficiency gains, the company’s management will focus on optimization, efficiency and productivity programs, and a reduction of workforce. Sanjeev Gupta, executive chairman of GFG Alliance, said the COVID-19 pandemic prompted the company to think differently on how to organize businesses and how to best allocate resources.