voestalpine AG, one of the Austrian steelmakers, announced that it would spend around EUR 1.5 billion to construct an electric arc furnace at its sites in Linz and Donawitz, respectively.

The construction was planned to start in 2024, and the two blast furnaces will be put into operation in 2027. They were expected to produce 2.5 million tons of low-carbon emission steel per year.

The construction was part of the company’s greentec steel plan to reduce CO2 emissions by up to 30% from 2027.