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South Korea's POSCO started electric arc furnace construction - Steel Radar South Korea's POSCO started electric arc furnace construction South Korean steelmaker Posco stated that it has started constructing an electric arc furnace (EAF) with a capacity of 2.5 million tonnes per year at its Gwangyang plant. 07.02.2024 - 14:00 The total investment of the project is estimated at KRW 600 billion ($451 million) and the electric arc furnace construction, which started on 6 February, is expected to be completed by the end of 2025. Formal operation will begin in 2026. Posco has ordered the continuous scrap charging system from Consteel and will utilise Italian supplier Tenova's Consterrer electromagnetic mixing system. Posco plans to produce steel products using molten steel produced directly in the EAF or by mixing it with pig iron produced in blast furnaces. In addition, the company aims to improve energy efficiency by utilising the waste gas generated during the operation of the electric arc furnace to preheat scrap steel. Posco said that once this electric arc furnace reaches production of 2.5 million tonnes per year, it could reduce carbon dioxide emissions by about 3.5 million tonn…

POSCO Completes 600 Billion Won Electric Arc Furnace in Gwangyang ... [Photo: POSCO] POSCO announced on June 17 that it has completed a large electric arc furnace in Gwangyang, capable of producing 2.5 million tons of steel annually, marking a significant step in its carbon reduction efforts. This electric arc furnace is the largest of its kind in South Korea and represents an investment of approximately 600 billion won, involving 270,000 person-hours of construction labor. The newly established electric arc furnace will play a crucial role in reducing greenhouse gas emissions until hydrogen reduction steelmaking technology is commercialized. It is also expected to enhance POSCO's portfolio of carbon-reduced products. This completion is particularly significant as it is the first major molten iron production facility built since the commissioning of the No. 5 blast furnace at the Gwangyang Steelworks in 2000. In February 2024, POSCO began the construction of this electric arc furnace in response to domestic and international decarbonization policies. The traditional blast furnace method, which uses iron ore and coal (coke) to produce molten iron, allows for mass production of high…

POSCO completes S. Korea's largest electric arc furnace to cut carbon emissions SEOUL, June 17 (Yonhap) -- South Korean steelmaker POSCO Co. said Wednesday it h...

POSCO starts construction of electric arc furnace at Gwangyang plant NewsCompaniesPOSCOPrint763307 February 2024 South Korean steelmaker POSCO has begun construction of a 2.5 million tonne per annum electric arc furnace (EAF) at its Gwangyang plant,Kallanishreports. The EAF is expected to be completed by the end of 2025 and officially operational in 2026. The total investment in the project is estimated at KRW 600 billion (over $451 million). When the planned production volume is reached, the company will be able to reduce carbon emissions by about 3.5 million tons per year compared to blast furnace production. In addition, the company intends to use the gases generated during the operation of the electric arc furnace to preheat scrap. POSCO has ordered a Consteel continuous scrap feeding system and a Consterrer electromagnetic stirring system from Tenova in Italy. POSCOplans to completethe commercialization of its HyREX technology by 2030 and switch its Pohang and Gwangyang steel mills to steel production based entirely on hydrogen reduction technology by 2050. The company is also stepping up its efforts to establish environmentally friendly commercial production systems abr…

(LEAD) POSCO completes S. Korea's largest electric arc furnace to cut carbon emissions SEOUL, June 17 (Yonhap) -- South Korean steelmaker POSCO Co. said Wednesday it h...

POSCO to Complete 2.5 Million-Ton Electric Arc Furnace at Gwangyang in ... | Summary | Save A A A POSCO Group is accelerating the buildout of a low-carbon steel production system as the company marks its 58th anniversary. Its business vision of shifting from a half-century-old blast furnace-centered production method to electric arc furnaces (EAFs) and hydrogen-based ironmaking is materializing through concrete capital investment and site development. POSCO Group Chairman Chang In-hwa referenced the company's founding spirit of "jeolboguk," or nation-building through steelmaking, in an anniversary message to employees on Saturday. "Through our steel, secondary battery materials and energy businesses, we will go beyond Korea's industrialization and achieve even greater dreams as a core pillar of the global supply chain," Chang said. Chang noted that external uncertainties including the spread of protectionism and the weaponization of resources have risen higher than ever. "We must follow the determination of our predecessors and achieve our management goals through innovation and execution," he stressed. While calling for the nurturing of future core businesses, he also urged the c…