Sault Ste Marie Ontario based Canadian producer of hot and cold rolled steel sheet and plates Algoma Steel is aiming to start EAF conversion project in 2024. Algoma Steel Chief Executive Officer Mr Michael Garcia said “The construction of our transformative electric arc furnace project continues on budget and on time towards a targeted startup in 2024. At the same time, the first of our two phase plate mill modernization project was completed and is ramping up during the third calendar quarter of this year.”Algoma Steel’s Board of Directors authorized Algoma Steel to construct two new state-of-the-art electric arc furnaces to replace its existing blast furnace and basic oxygen steelmaking operations in November 2021. The CAD 700 million projects is expected to take two years to complete and is advancing as expected. Following the transformation to EAF steelmaking, Algoma’s facility is anticipated to have an annual raw steel production capacity of approximately 3.7 million tons, matching its downstream finishing capacity, and reducing the Company’s annual carbon emissions by approximately 70%. To date the project remains on schedule and on budget.