Put companies on watchlist
Salzgitter Aktiengesellschaft
ISIN: DE0006202005
WKN: 620200
About
Company Snapshot
New: Enable Investor Alerts
Be informed about new publications
New: AI Factsheet

Corporate News meets AI! 
Content analysis and summary

EN GIF 300X250

Salzgitter Aktiengesellschaft · ISIN: DE0006202005 · EQS - Company News (80 News)
Country: Germany · Primary market: Germany · EQS NID: 1427381
24 August 2022 01:10PM

Salzgitter Aktiengesellschaft: Salzgitter AG places first order for SALCOS® plant


DGAP-News: Salzgitter Aktiengesellschaft / Key word(s): Miscellaneous
Salzgitter Aktiengesellschaft: Salzgitter AG places first order for SALCOS® plant

24.08.2022 / 13:10 CET/CEST
The issuer is solely responsible for the content of this announcement.


 

  • Primetals Technologies to build the first electric arc furnace in Salzgitter
  • Another important step towards low-CO2 steelmaking
  • Production scheduled to commence end of 2025 – annual capacity 1.9 million tonnes

 

Salzgitter. Following the decision by the Salzgitter AG Supervisory Board in July to approve capital funding in the amount of € 723 million for SALCOS® - Salzgitter Low CO2 Steelmaking, the first order has now been placed for central plant components that will enable virtually CO2-free steel production in Salzgitter.

On Tuesday, August 23, 2022, Salzgitter Flachstahl GmbH and Primetals Technologies signed a contract for the engineering, supply and erection of the first electric arc furnace (EAF) and the development of technical infrastructure in Salzgitter.

The EAF is an a.c. module with three electrodes which has an annual capacity of around 1.9 million tonnes of crude steel. It will be capable of smelting sponge iron and steel scrap along with various additives in less than 50 minutes. The crude steel will then be refined using the existing plant, cast in slabs, rolled and processed.

Plant assembly will commence at the end of 2024, once the technical infrastructure is in place. The scope of the order also extends to the necessary ancillary modules such as, for example, dust extraction units including heat recovery, water management, electrical compensation to stabilize the network, and material handling equipment for alloying agents and additives. Extensive digitization, robotics and other technology packages will be employed to ensure process stability at the new EAF. Production is slated to start at the end of 2025.

Ulrich Grethe, Head of Steel Production at Salzgitter AG, commented: “This step underscores our ambition through SALCOS® to retain our leadership in decarbonizing the steel industry and ensure that our plant here in Salzgitter is securely positioned for a long-term future. With Primetals we have a strong partner by our side – true to our Salzgitter AG 2030 strategy and to the principle of partnering for circular solutions.”

Aashish Gupta, Executive Vice President and Head of Upstream Business stated: “Primetals Technologies is delighted to support the decarbonization projects undertaken by Salzgitter AG through the use of our technology, in this case with the installation of a high-efficiency EAF. With our ‘Green Steel’ technology, we are making low-CO2 steel production a reality.”

The EAF and the ancillary modules will be fitted with sound insulation in order to securely comply with the permissible noise limits at the workplace and in the neighboring communities. The waste heat generated by the process will largely be converted into steam with the aid of heat recovery technology. This steam will then be fed into the “steelworks network” and reused in other parts of the works.

The goal of SALCOS® is, in three stages between now and 2033, to convert the integrated steelworks entirely to low-CO2 crude steel production. As part of the transformation, two direct reduction plants and three electric arc furnaces will be built to successively replace the blast furnaces and converters. In this way the previous process based on coking coal will give way to a new water-based route to steelmaking. Anticipated savings are in the order of 95 % of annual CO2 emissions of around 8 million tonnes. That means that around 1 % of Germany’s emissions of CO2 can be avoided.

 


Contact:
Markus Heidler

Head of Investor Relations

Salzgitter AG
Eisenhüttenstraße 99
38239 Salzgitter

Phone +49 5341 21-6105
Fax +49 5341 21-2570
E-Mail ir@salzgitter-ag.de


24.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Salzgitter Aktiengesellschaft
Eisenhüttenstraße 99
38239 Salzgitter
Germany
Phone: +49 5341 21-01
Fax: +49 5341 21-2727
E-mail: info@salzgitter-ag.de
Internet: www.salzgitter-ag.de
ISIN: DE0006202005
WKN: 620200
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1427381

 
End of News DGAP News Service

1427381  24.08.2022 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1427381&application_name=news&site_id=boersengefluester_html
Visual performance / price development - Salzgitter Aktiengesellschaft
Smart analysis and research tools can be found here.

This publication was provided by our content partner EQS3.

EQS Newswire
via EQS - Newsfeed
EQS Group AG ©2024
(DGAP)
Contact:
Karlstraße 47 D-80333 München
+49 (0) 89 444 430-000

 

SMART * AD
EN GIF 970X250

P R O D U C T   S U G G E S T I O N S

The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.


The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.

If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.

For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.


1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.