UK-based steelmaker Liberty Steel has announced that its Hungarian subsidiary Liberty Dunaújváros, formerly known as Dunaferr, has started the process of closing its two coke oven batteries. The closure decision has been made as the batteries have become loss-making, due to excess production capacities on the market.
According to the statement, coke production will end on June 12. The closure of the coke batteries will also ensure a significant carbon and dust emission reduction from the plant. The company will engage with the trade unions and authorities to develop a transition plan for the affected employees.
Liberty Steel intends to invest in the transformation of Liberty Dunaújváros’ into a carbon-neutral steel producer over the next five years. Liberty Dunaújváros recently signed a contract with China-based engineering company CISDI Engineering for the construction of an advanced electric arc furnace at its plant, as SteelOrbis previously reported. The company’s green steel transformation will reduce direct carbon emissions by approximately 80 percent.