The Spanish metallurgical company Megasa, which occupies one of the leading positions among suppliers of rolled products in Europe, plans to invest more than 300 million euros in the modernization of its production facilities in Portugal.
The company will focus on the renovation of the SN Maia and SN Seixal plants. Both enterprises envisage a transition to more autonomous consumption of renewable energy through the installation of photovoltaic solar panels.
Megasa reported that the project aims to reduce dependence on the national electricity grid and reduce the impact of fluctuations in electricity prices, including those related to tensions in the Middle East and changes in the European energy market.
The Group also believes that the Portuguese Government's extension of indirect cost compensation is key to the future of the country's steel industry. According to her, many metallurgical enterprises in Europe have already closed or are under threat of shutdown.
The company notes that government support directly increases the competitiveness of energy-intensive industries, since the authorities cannot interfere with electricity prices emerging in the Iberian market.
Megasa emphasizes that energy is its second largest item of production costs after scrap metal. At the same time, enterprises in Maia and Seychelles are among the largest consumers of electricity in Portugal.
The factories in Maia and Seychelles produce wire rod, rebar and welded mesh.
