Austrian steel maker Voestalpine has announced that world’s most advanced special steel plant at the Voestalpine site in Kapfenberg will gradually be commissioned this summer, operating at full capacity from fall onwards. Voestalpine said “Despite an exceptionally difficult operating environment and delivery bottlenecks in almost all sectors, work on the investment project continued without disruption. The first facilities are already undergoing testing at the plant which will produce 205,000 tonnes of special steels for the international aerospace, oil and natural gas, automotive, and tool making industries. The new special steel plant will secure around 3,000 jobs at the Styrian Voestalpine sites in Kapfenberg and Mürzzuschlag. As already communicated, costs will rise by around 10% to 20% over the original planned investment of EUR 350 million due to the challenges associated with the COVID-19 pandemic and delays in deliveries from equipment suppliers.”In total, Voestalpine has invested EUR 710 million in the business year 2021/22, representing a 16% rise over the previous year. Investment expenditure was focused on technical optimizations to existing assets and replacement investments. Over the coming years, Voestalpine will again increasingly invest in highly profitable growth projects in its processing divisions. Another particular focus will be on implementing the technology transformation for decarbonization at the steel producing sites in Linz und Donawitz.
Austrian steel maker Voestalpine has announced that world’s most advanced special steel plant at the Voestalpine site in Kapfenberg will gradually be commissioned this summer, operating at full capacity from fall onwards. Voestalpine said “Despite an exceptionally difficult operating environment and delivery bottlenecks in almost all sectors, work on the investment project continued without disruption. The first facilities are already undergoing testing at the plant which will produce 205,000 tonnes of special steels for the international aerospace, oil and natural gas, automotive, and tool making industries. The new special steel plant will secure around 3,000 jobs at the Styrian Voestalpine sites in Kapfenberg and Mürzzuschlag. As already communicated, costs will rise by around 10% to 20% over the original planned investment of EUR 350 million due to the challenges associated with the COVID-19 pandemic and delays in deliveries from equipment suppliers.”In total, Voestalpine has invested EUR 710 million in the business year 2021/22, representing a 16% rise over the previous year. Investment expenditure was focused on technical optimizations to existing assets and replacement investments. Over the coming years, Voestalpine will again increasingly invest in highly profitable growth projects in its processing divisions. Another particular focus will be on implementing the technology transformation for decarbonization at the steel producing sites in Linz und Donawitz.
