Steel Industry Capex
| Country | Investor | Facility | Equipment | Capacity (kt) | Capex (US$m) |
|---|---|---|---|---|---|
| Australia | Green Steel | Collie Works | Micro-mill | 450 | 400 |
| Italy | DRI d'Italia | DRI d'Italia | DRI | 2,000 | 1,070 |
| Japan | Nippon Steel | Nagoya Works | HSM | 6,000 | 2,100 |
| Kazakhstan | Eurasian Natural Resources | Rudny Works | DRI | 2,000 | 1,000 |
| Kazakhstan | QazSpecSteel | Aktobe Plant | BOF / CC / Billet | 800 | 600 |
| Korea | POSCO | Gwangyang | EAF | 2,500 | 459 |
| New Zealand | New Zealand Steel | Glenbrook | EAF | 670 | 187 |
| Slovakia | US Steel | Košice | Decarbonisation | 5,000 | 1,365 |
| Spain | Stegra / Iberdrola | Not specified | Electrolyser | 1,000 | 2,610 |
| Spain | Hydnum Steel | Hydnum Steel | Endless casting rolling HRC | 1,500 | 1,931 |
| Turkey | Habaş | Aliaga | Bar mill | 2,500 | 26 |
| Turkey | Kocaer Steel | Uncertain | Geothermal power | 24 MW | 77 |
| UK | Tata Steel | Port Talbot | Decarbonisation | 5,000 | 1,463 |
| US | Fortescue | Phoenix Hydrogen Hub | Hydrogen hub | 11 | 550 |
Source: MCI research. Data as of November 2026.
Green Steel micro-mill in Australia will produce low carbon rebar and is to be powered by renewable energy.ArcelorMittal's 2,500 kt DRI / EAF plan at Gent in Belgium (US$2,130m) was suspended in November 2024 over CBAM concerns and is no longer counted as a 2026 project.
thyssenkrupp's 2,500 kt DRI plant at Duisburg (US$2,000m) has been taken out of 2026: its start-up is now planned for 2029 (SteelOrbis, November 2026).
SSAB's Oxelösund project (closure of 1.8 Mt BF capacity and coke plants, and a new EAF) has moved to the 2027 table: the EAF is now due to start in Q2 2027 (SSAB, June 2026).
Nucor's US$860m rebar micro-mill in the Pacific Northwest (590 kt) has been removed: Nucor dropped the plan in 2025.
All investment and modernisation projects above are scheduled for commissioning in year 2026. Capacity data is in thousand tonnes (kt).
Metals Consulting International (MCI) holds a database of 1,345 steel industry modernisation projects. This database contains individual modernisation records identifying the country, investor, facility, capacity impact, capital cost, capex cost per tonne, commissioning date etc. Please email info@steelonthenet.com
or call +44 775 149 0885 for further information.
