Czech-Republic based Nova Hut, formerly Liberty Ostrava, is planning to invest up to CZK 150 million ($6.5m) this year in production modernisation, equipment renewal and energy efficiency, according to production and technical director Ivo Chmelík.
“A key strategic project is the preparation for the construction of an electric arc furnace, with an estimated value of approximately CZK 17 billion,” the company says.
“This long-term ecological project, supported by a grant from the Modernisation Fund of the Ministry of the Environment, has the potential to significantly shape the future of steel production at Nova Hut,” it adds.
The planned EAF capacity is up to 1.5 million tonnes/year, Kallanish notes.
In parallel, Nova Hut plans a series of operational investments focused on reducing energy consumption and emissions, recovering waste heat on hot rolling lines, modernising technologies and increasing the share of higher value-added products. It will also conduct a major upgrade of its rotary hearth furnace.
The company took over the formerly insolvent plant on 1 October, following approval from the Czech Competition Authority and consent of the insolvency court. The plant’s blast furnaces and coking plant have been permanently decommissioned.
