Capital Investments Data
ArchiveSteel Investment Projects 2023.
This page records steel modernisation projects reported in 2023, part of a yearly series kept as a historical record. Compiled 2023. Figures are as published and are not revised, so they reflect conditions at that time.
For the latest figures, see Steel Capex Projects 2026.
2023 Analysis: Investment in 2023 emphasised sustainability with multiple renewable energy projects in Argentina and Turkey. Russia maintained diverse infrastructure development with coke ovens, air separation and specialty steel capacity. UK invested across scrap processing and service centres. USA focused on EAF-based capacity and electrical steel production. Notable green steel initiatives included Angola's first pig iron plant and hydrogen-based DRI in China.
33
Projects Shown
19
Countries
6 Renewable
3 EAF, 3 Coke, 2 Pellet
Project Categories:
Melting/Raw Materials
Rolling Mills
Coating/Finishing
| Country | Company | Location | Project | Description |
|---|---|---|---|---|
| Angola | Companhia Siderúrgica do Cuchi | Unknown | Blast Furnace | Angola's first green pig iron plant |
| Argentina | Aluar | Puerto Madryn | Wind Power | Investment in 18 turbines of 4.5 MW capacity each |
| Argentina | ArcelorMittal | Acindar | Wind Power | Investment in 17 Vestas V150 turbines of 4.5 MW capacity each |
| Argentina | Tenaris | Adolfo Gonzales Chaves | Wind Power | 24 x 4.2-MW wind turbines. Will power half of Siderca's needs |
| Austria | voestalpine | Linz | Pickling Line | Fully automated 2 Mt/yr pickling incl acid regeneration line |
| Bolivia | Aceros Arequipa | Latin American Industrial Park | Welded Tube – ERW | Three ERW lines with capacity of 60,000 t/yr, and a 10,000 m² warehouse |
| Brazil | Sinobras | Sinobras | Bar Mill | New bar and rod mill. Sinobras also known as Siderúrgica Norte Brasil |
| China | Baowu | Zhanjiang Works | DRI | New H₂ shaft furnace for DRI production. Investment will drop CO₂ emissions by 500 kt/yr |
| China | Hunan Valin | Xiangtan | Rod Mill | Subsidiary Valin Xiangtan Iron and Steel to build new high-speed wire rod rolling production line |
| China | Tsingshan Holdings | Fu'an Qingtuo | HSM – Stainless | 1780 mm hot strip mill for stainless steel |
| Egypt | Ezz Steel | Suez Plant | EAF | This is a 2nd melt shop. The new project costs nearly EGP 3bn |
| India | ArcelorMittal / Nippon Steel | Visakhapatnam | Pellet Plant | Capex to expand the production capacity of pellet plant from 8 Mt to 11 Mt/yr |
| India | JSW Steel | Pulwama | Organic Coating Line | JSW Steel's first plant in the region |
| India | SAIL | Rourkela Steel Plant | Coke Ovens | New coke battery #7 with by-product plant. 42 months implementation |
| Indonesia | Nanjing I&S JV | Morowali | Coke Ovens | JV with Tsingshan Holding Group, Shanghai Decent Investment Group and others |
| Italy | Duferco | Travi e Profilati | H/S and Rail | Power supply of the new rolling mill will be completely covered by renewable energy |
| Mexico | Klöckner | O'Donnell Phase V | SSC | This is Klöckner Metals Corporation's second steel service centre (SSC) in Mexico |
| Moldova | OmniSteel | OmniSteel | IF / CC / Bar Mill | 12,000m² site for production of IF-based reinforced steel of 8–32 mm |
| Oman | Vulcan Pelletising | Sohar | Pellet Plant | Grate kiln pellet plant to supply Jindal Shadeed |
| Romania | Liberty Steel | Liberty Tubular Products | Pipe Epoxy Coating | New pipe coating line provides washing, drying, sandblasting, inspection and different coating types |
| Russia | Magnitogorsk I&S Works | Magnitogorsk | Air Separation Unit | 60k m³ of O₂ and 60k m³ gaseous N₂ as well as 2k m³ of argon per hour |
| Russia | Magnitogorsk I&S Works | Magnitogorsk | Coke Ovens | Coke oven battery No. 12. Capex cost revised in mid-2022 to US$1,230m |
| Russia | TMK / CHeMK JV | RNK Works | EAF / CC / HSM | Stainless plant. RNK will be owned in equal shares by TMK's Volzhsky Pipe Plant and CHeMK |
| Turkey | Çemtaş | Çemtaş Works | Solar Power | Planning permits awaited. Plan to be operational in Q3 2023 |
| Turkey | Tosyalı Holdings | Tosyalı Toyo | Solar Power | Capacity of 19.2MWm (16.06MWe). Total area of 14.67 hectares |
| Turkey | Tosyalı Holdings | Toscelik | Solar Power | Rooftop solar power plan 140 MW capacity on 632,000 m² area |
| United Kingdom | British Steel | Scunthorpe Mill | Casting – Billet / Bloom | New billet cc will expand the semis range and improve their internal and surface quality |
| United Kingdom | British Steel | Skinningrove | SSC | Investment by Special Profile Division in new £26m SSC at Skinningrove, North Yorkshire |
| United Kingdom | S Norton Group | Manchester Plant | Shredder | £20m to design, build and commission metals shredder facility at its Manchester site |
| US | ArcelorMittal / Nippon Steel | Calvert | EAF / CC / Slab | Plant for EAF + slab to be built at the 50–50 joint venture AM/NS Calvert site |
| US | CMC | Mesa #2 | Micro-Mill | 3rd CMC micromill; for rebar + MBQ. 500 kt incl 150 kt MBQ. Next to other Mesa mill |
| US | US Steel | Big River Steel | Electrical Steel | New non-grain oriented electrical steel line at its recently acquired Big River facility, in Arkansas |
| Vietnam | Kyoei Steel | Vietnam Italy Steel | Bar Mill | For production of rebar, round bar and wire rod |
Source: MCI research. Data as of 2023.
See also: analysis of plant and equipment suppliers
Metals Consulting International (MCI) maintains 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.