This decision was taken in response to the recovery in the European steel market and increased local demand. The furnace is expected to restart in the coming days. In the meantime, Liberty Steel CEO Sanjeev Gupta and Romania's Deputy Prime Minister Mariana Neatsu met to discuss the plant's restart and decarbonization plans.
They discussed the restart of the Galati plant to meet demand from the local infrastructure and shipbuilding industry. They also discussed Liberty Steel's investments to decarbonize its existing facilities. The company asked the government for support on the distribution of CO2 certificates and incentives available for energy-intensive consumers. Deputy Prime Minister Neatsu emphasized the importance of green investments and stated that the government will cooperate with the company in this regard.
Ajay Aggarwal, Chairman of the Board of Directors of Liberty Galati, stated that they are encouraged by the support they received from the Romanian government, despite the difficulties the European steel industry has experienced in the last 12 months. Aggarwal emphasized that Liberty Galati plays an important role in producing metal products for critical infrastructure and employing thousands of people.
The Galati plant is an important part of Romania's industrial structure and aims to return to a more stable and profitable production process with the recovery of steel demand in Europe and improvements in market conditions. Liberty Steel's move is seen as part of the company's strategy to strengthen its position in the European steel market.
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