BlueScope is preparing to build a new electric arc furnace at its New Zealand Steel works in Glenbrook. The board has officially approved the NZ$ 300 million (EUR 181 million) project.
The new furnace is scheduled to become operational by 2026 and BlueScope says it will reduce the company’s scope 1 and 2 greenhouse gas emissions by at least 45%. This is the same as taking approximately 300 000 cars off the road.
The announcement follows news that the New Zealand Government has confirmed ‘unconditional’ support. It has specified an investment of NZ$ 140 million, which will be paid through its Investment in Decarbonising Industry fund. This complements the company’s own investment of NZ$160 million.
Finalising the project is subject to standard environmental regulatory approvals.
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