Capital Investments Data
2024 Analysis: Investment in 2024 showcased global energy transition with hydrogen-ready infrastructure and renewable power projects across multiple regions. Turkey dominated with solar power installations and EAF capacity. Canada invested in major decarbonisation with hydrogen-ready DRI. Germany focused on green hydrogen electrolysers. Multiple micro mill projects in USA reflected trend toward distributed, flexible steelmaking capacity.
35
Projects Shown
22
Countries
6 Solar/H₂
6 EAF, 3 Micro Mills
Project Categories:
Melting/Raw Materials
Rolling Mills
Coating/Finishing
| Country | Company | Location | Project | Description |
|---|---|---|---|---|
| Algeria | Tosyalı Holdings | Oran Works | DRI/EAF/CC/HRC | Cold rolling and galvanising to be commissioned in 2025 |
| Argentina | Tenaris | Campana Industrial Center | EAF | New EAF equipped with Consteel® and ABB ArcSave-based electromagnetic stirrer |
| Brazil | Simec | Pinda Plant | EAF/CC/Bar | Capacity expansion by Simec of Mexico from 500 kt/yr to 1 Mt/yr |
| Canada | Algoma Steel Group | Algoma | EAF | New EAFs to replace existing BOFs. 30m construction phase |
| Canada | ArcelorMittal Dofasco | Hamilton | DRI | Hydrogen-ready Energiron DRI unit. Associated 2.4 Mt EAF planned later |
| China | Fujian Baotai Stainless | Fuzhou | CRM – Stainless | Construction of the 1.1 million tonnes per year capacity facility in two phases |
| Colombia | Tenaris | TuboCaribe | Induction Heater | Electric induction coil for upsetting line at seamless pipe factory in Cartagena |
| Egypt | Air Liquide | Ain Sokhna | Air Separation Unit | US$80m investment to supply EZZ and other local customers |
| Finland | Kuusakoski Oy | Veitsiluoto | Scrap Processing | Kemi port connection links sea freight to rail and road transport |
| France | ArcelorMittal | Mardyck | Electrical Steel | Electrical steels for electric motors in general and for electric/hybrid vehicles |
| France | ArcelorMittal | Fos-sur-Mer | Ladle Furnace | 340-tonne twin LF at the Fos-Sur-Mer site supplied by Sarralle |
| Germany | ArcelorMittal | Eisenhüttenstadt | Electrolyser | 2 MW electrolyser will produce hydrogen for direct use in steel production |
| Germany | ArcelorMittal | Duisburg | Ladle Furnace | Will reduce CO₂ emissions by almost 60,000 t/yr |
| Germany | Salzgitter | Flachstahl Works | Blast Furnace Reline | Blast Furnace A restarted Jan 2024 following 100-day maintenance outage |
| India | Fero Alloys Corporation | FACOR Works | Submerged Arc Furnace | Project includes two 75 MVA SAFs with preheating technology |
| India | Tata Steel | Ludhiana | Micro Mill | First MIDA QLP endless casting-rolling plant in India. 18 stands 8–40 mm rebar |
| India | NMDC | Nagarnar | Pellet Plant | Travelling grate kiln pellet plant |
| Mexico | Minera Autlan | Not Disclosed | EAF | EAF for ferroalloy production |
| Netherlands | Van Merksteijn | Eemshaven | Rod Mill | Plans originally put forward in 2018, but faced environmental objections |
| Peru | Aceros Arequipa | PISCO | Bar Mill | Bar mill to meet demand for longs from Peruvian and regional market |
| Philippines | Real Steel Corp | Pampanga | Solar Power | Investment in a rooftop solar photovoltaic system |
| Poland | ArcelorMittal | Krakow Works | Batch Annealing | Construction of 9 H₂ batch annealing furnaces at 1 Mt/yr cold rolling mill |
| Poland | Cognor | Siemianowice | Bar Mill | Mill will produce bars, channels, I-sections. Replaces outdated smaller mill |
| Romania | Beltrame | Beltrame | EAF/CC/Bar | Eco-friendly rebar and wire rod mill incl 100 MW photovoltaic solar park |
| Romania | Beltrame | Beltrame | Solar Power | Photovoltaic park with installed capacity of 100–120 MW and energy storage system |
| Russia | Metalloinvest | Mikhailovsky GOK | DRI | Largest HBI plant in world. Allows for conversion from natural gas to hydrogen |
| Russia | NLMK | Novolipetsk | Waste Heat Recovery | 300 MW waste heat recovery power plant running on by-product gases |
| Turkey | Hascelik | Osmaneli | EAF/CC/Stainless Slab | Consteel EAF with LF and twin degassers for production of specialty steel semis |
| Turkey | İçdaş | Çanakkale | HSM | EIA commenced October 2022 |
| Turkey | Tosyalı Demir Çelik | İskenderun Works | Rod Mill | Construction works might start in April 2023 |
| USA | Highbar | Osceola | Micro Mill | 1st of two planned EAF rebar micro mills for the firm; 600 acre site; includes solar |
| USA | Nucor | Kingman | EAF/CC/Billet | New melt shop for existing rebar and wire rod mill |
| USA | US Steel | Big River Steel | HDG | 325,000 short ton capacity galvanising line to be completed mid-2024 |
| Uzbekistan | Uzbekistan Metallurgical | Bekabad | EAF/Thin Slab/HRC | 120 t EAF, twin-LF + vac degasser. QSP with vertical curved thin slab CC |
| Vietnam | Hoa Phat Group | Hoa Phat Dung Quat 2 | BOF/CC | 284 hectare site will make 4.6 Mt HRC and 1 million tonnes of steel bars and wire |
Source: MCI research. Data as of 2024.
See also: analysis of plant and equipment suppliers
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