Voestalpine's Kapfenberg Advanced Steel Plant Expected to Be Commissioned Within Fiscal Year 2024
By Pierre Bertrand
Voestalpine said Wednesday that full commissioning of its new
Kapfenberg advanced steel plant is expected within its current
fiscal year and that the plant will reach full production capacity
by the end of 2023.
The plant, which is the Austrian steel company's largest
investment in recent years, will enable it to expand in both tool
and special steels.
It plans to annually produce 205,000 metric tons of special
steels dedicated for aerospace, oil and natural gas, automotive and
toolmaking industries, the company said.
Voestalpine warned that potential cost overruns could reach as
high as 30% over the 350 million euro ($374.2 million) initial
investment plan due to difficult conditions and delays incurred by
the coronavirus pandemic.
The new plant will initially operate in tandem with the
company's existing electric steel mill in Kapfenberg, a Voestalpine
"From 2024 the new special steel plant will be in full operation
on its own. Until then, the new special steel plant will run in
intermittent parallel operation with the old existing one," the
Write to Pierre Bertrand at email@example.com
(END) Dow Jones Newswires
June 07, 2023 08:16 ET (12:16 GMT)
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