Türkiye-headquartered Kurum has signed an investment agreement with Italian engineering group Danieli to build a new steel production plant in Albania, with total investment valued at around €150 million ($176.8m), Kallanish notes.
The new facility will be located in the metallurgical industrial zone of Elbasan and will be based on Danieli’s MIDA Steel Concept technology. The concept, implemented for the first time in Europe, is designed to significantly reduce energy consumption and carbon emissions.
According to Danieli, the plant’s annual capacity will be in the range of 700,000-750,000 tonnes/year of bars and compact coils.
Kurum International finance director Arif Shkalla says the MIDA concept will enable near-zero carbon emissions and align production with European decarbonisation policies.
Danieli representative Federico Rocchetti notes that the technology meets the parameters required for green steel certification and could serve as a model for future investments across Europe, according to media reports.
The project is expected to be completed within around 24 months.
