£ 80m investment in British Steel underway at Scunthorpe

British Steel has begun investing £ 80m to expand its product range at Scunthorpe and improve operational and environmental performance.

The majority of the investment (£ 48 million) is funding the installation of new billet casters.

Rodmill has also been given a £ 32m upgrade-work was suspended by the previous owner as debt was piled up before the Zinge Group acquired a huge business from liquidation.

read more:Millions of pounds investment following British Steel Network Rail contract acquisition

Xifeng Han, Chief Executive Officer of British Steel, said:

“We are still in the early stages of transformation, but these projects are a major step forward for British Steel and our customers. New technologies and manufacturing capabilities significantly enhance our product range and improve operational performance and efficiency. To do.

“Steel is essential to the modern economy, and such investments can continue to provide the steel that our customers and the world need while playing a central role in the transition to a low-carbon circular economy. “

The new billet casters, which produce semi-finished length steel, have been installed by Danieli and will be commissioned at the end of the year. This allows enterprises to increase capacity and grow into new markets while being environmentally efficient.It comes as Huge hydrogen fuel switching pilot begins, Possibility to expand to the entire group. Tat follows last year’s roadmap announcement Decarbonized steel..

Richard Longbottom, Technical Manager for Steelmaking Development, said: In addition, the product range will be expanded, the competitiveness will be enhanced, and the provision to customers will be expanded. “

The new state-of-the-art mill equipment greatly expands the engineering capabilities of rod mills. As part of the £ 50m investment announced in 2018, the project was reopened under the ownership of British Steel’s new Jingye Group.

Once the high-tech upgrade is complete, the company’s wire products will have significantly improved tolerances and surface quality in an expanded product range up to 28mm in diameter. It also significantly improves mechanical properties and enhances supply condition options such as normalized rolled and cold rolled wire.

The reconfigured mill layout and new equipment will be commissioned in 2023.

Phil Knowles, Wire Rod Commercial Director, said:

“We can also explore new market opportunities and secure a strong future for our wire rod business. We are very much looking forward to the realization of our strategic plan.”

Further investment is being made in FN Steel, a sister company of British Steel in the Netherlands, and will also receive billets from new castrators.

A twelfth wire has been added to show the relocation of new coil warehouses, billet storage areas and transportation facilities.

Work begins further Following the acquisition of major contracts for Network Rail, the addition of railroads is also progressing...

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£ 80m investment in British Steel underway at Scunthorpe

Source link £ 80m investment in British Steel underway at Scunthorpe

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