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Posco prepares to build green steel plant

South Korea's Posco Corporation is preparing to build a demonstration plant for the production of environmentally friendly "green" steel.

Posco prepares to build green steel plant

Posco Corporation, a South Korean company, is set to begin constructing a demonstration plant for the production of environmentally friendly "green" steel. The plant, located at Pohang Iron and Steel Works, will have an annual capacity of 300,000 tons. Posco will utilize HyREX technology, developed in collaboration with Japanese-Austrian equipment manufacturer Primetals Technologies, for the plant. Construction is scheduled to commence in June of this year, with production expected to start in 2026.

The process at the plant involves producing direct reduced iron (DRI) by utilizing hydrogen as the reducing gas. The resulting metallized feedstock will be melted in an electric arc furnace. Notably, the HyREX process utilizes fine powders as feedstock, eliminating the need for pelletizing and sintering.

Posco and Primetals Technology claim that the use of HyREX technology will significantly reduce the carbon footprint of steel production by 90%. This initiative aligns with Posco's long-term goal of achieving carbon neutrality by 2050. Furthermore, the company aims to evaluate the commercial feasibility of producing steel using hydrogen by 2030.

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