The Turkish company Kurum, headquartered in Turkey, has signed an investment agreement with the Italian engineering group Danieli on the construction of a new steel plant in Albania, with a total investment of about 150 million euros ($176.8 million), Kallanish notes.
The new facility will be located in the metallurgical industrial zone of Elbasan and will be based on the MIDA Steel Concept technology developed by Danieli. The concept, first implemented in Europe, is designed to significantly reduce energy consumption and carbon dioxide emissions.
According to Danieli, the annual capacity of the plant will range from 700,000 to 750,000 tons of bars and rolled products in compact design per year.
Arif Shkalla, Kurum's international finance director, says that the MIDA concept will reduce carbon dioxide emissions to almost zero and bring production in line with the European decarbonization policy.
Federico Rocchetti, a representative of Danieli, notes that the technology meets the parameters required for certification of environmentally friendly steel, and, according to media reports, can serve as a model for future investments throughout Europe.
The project is expected to be completed in about 24 months.
Author: Elina Virchenko UAE
Kallanish.com
