Nova Hut describes in detail the investment plans, preparation of the EDP
The Czech company Nova Hut, formerly Liberty Ostrava, plans to invest up to CZK 150 million ($6.5 million) this year in production modernization, equipment upgrades and energy efficiency improvements, said Ivo Chmelik, production and technical Director.
"The key strategic project is the preparation for the construction of an electric arc furnace, the cost of which is estimated at about 17 billion Czech crowns," the company said in a statement.
"This long-term environmental project, supported by a grant from the Modernization Fund of the Ministry of the Environment, can significantly affect the future of steel production in Nova Hut," the statement said.
The planned capacity of the EDP is up to 1.5 million tons per year, Kallanish notes.
In parallel, Nova Hut is planning a number of production investments aimed at reducing energy consumption and emissions, recycling waste heat in hot rolling lines, modernizing technologies and increasing the share of products with higher added value. The company will also carry out a large-scale modernization of its rotary hearth furnace.
On October 1, the company entered into management of the previously insolvent company after approval by the Czech Antimonopoly Authority and the Insolvency Court. The blast furnaces and the coke shop of the plant were finally decommissioned.
Author: Elina Virchenko UAE
Kallanish.com