Greensteel Australia has announced a US$1.6 billion investment in a new, state-of-the-art steel facility that will drive the decarbonization of heavy industry. 

The project will feature a direct reduced iron (DRI) plant, two electric arc furnaces (EAFs), and rolling mills supplied by the Italian engineering firm Danieli. 

In October 2024, Greensteel confirmed its order for a rebar rolling mill, with the DRI unit and both EAFs scheduled for installation by late 2026 or early 2027. Although the facility’s exact location has not been finalized, Whyalla is the most likely candidate, with the project expected to create more than 1,500 permanent positions and 2,500 construction-related jobs. 

Greensteel President and CEO Mena Ibrahim emphasized that an accelerated timeline with Danieli could see the plant operational within two years. The plant will also produce extra-long sections for high-speed rail, which are not yet manufactured in Australia, by employing hydrogen-based DRI methods.