Europe’s first steel plant in 40 years
(Posted on 09/05/18)
Construction has started on Europe’s first specialised steel plant in 40 years. Voestalpine is building a €350m factory in Kapfenberg, south west of Vienna, Austria.
The plant, which should take three years to complete, will be highly digitised, relying more on computer-monitoring of machines rather than the workforce standing in front of blast furnaces.
Europe’s steel industry has been in steep decline for decades, as cheaper producers such as China have undercut more expensive western counterparts. The new plant will have the capacity to produce 205,000 tonnes of high-performance steel annually, with a market value of €8bn. Customers are expected to be vehicle manufacturers, the aerospace sector, and the oil and gas industry.
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