Spain-headquartered steelworks dust processor Befesa has announced that it plans to invest around €500 million ($510.8m) in projects to capture the growing opportunities that the decarbonisation and electric vehicle trends are generating in the steel and aluminium industries.
The 5-year Sustainable Global Growth Plan (SGGP) will enable the company to add between €125-155m to Ebitda, it claims.
“Our investments will support electric arc furnace (EAF) steel production growth, triggering increased residues recycling volume in the markets where Befesa operates,” the company says. ”As a clear enabler of the transition to a low-carbon economy, we are well positioned to seize these significant growth opportunities by expanding our recycling capacity.”
The SGGP involves nine projects across Europe, the US and China. These include the upgrade of facilities, growing their capacities, as well as the building of new plants in existing markets and expansion of activities in China.
Befesa expects to present the SGGP in Q4 2022, Kallanish notes.
Todor Kirkov Bulgaria
