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voda 21 september 2022 07:34

Metinvest-Develops Thinner Body Armor Plates

Strategic Research Institute
Published on :
21 Sep, 2022, 6:06 am

Ukrainian mining and metallurgical group Metinvest, which is providing free of charge armor plates to military units & others, announced hat it has managed to reduce the thickness of the plates from 8.0-8.2 mm to 6.3-6.7 mm by adjustment of the chemical composition of alloys, parameters of hot rolling of the sheet and heat treatment of finished products, while maintaining their bulletproofness at class 4 level by DSTU 8782:2018. This development has significantly reduced the overall weight of armor elements to increase warrior mobility

Metinvest said “Group pays so much attention to providing the personnel of the Armed Forces with everything necessary to increase their safety from helmets and body armor to thermal imagers and drones. Since March 2022, simultaneously with the purchase of readymade solutions, our enterprises have started setting up their own steel production for the manufacture of rigid protective elements of body armor. During this period, we have come a long way, and we have a lot to be proud of.”

voda 21 september 2022 07:35

DISCO’s Mvuma Steel Plant in Zimbabwe to Open in August 2023

Strategic Research Institute
Published on :
21 Sep, 2022, 6:09 am

NewsDay Business reported that China’s leading stainless-steel firm Tsingshan Holding’s USD 1.5 billion Dinson Iron & Steel Company plant near Mvuma in Zimbabwe is about 40% completed and would begin production in August 2023. Dinson Iron & Steel Company Project Manager Mr Wilfred Motsi told NewsDay Business that “I can safely say we are at 40% towards completion of the first phase and we are expecting to start production in August next year. At the completion of the first phase, the plant will produce 1,200 tonnes of carbon steel and we are ahead by two months.”

A power deal has already been signed for the plant with power utility Zesa. Under the deal, the Chinese firm will extend USD 55 million in loans to Zesa, which will be used to construct a powerline linking its plant to the national grid.

voda 21 september 2022 07:35

MMK & ETP GPB Ink Pact for Integration ofOnline Steel Marketplaces

Strategic Research Institute
Published on :
21 Sep, 2022, 6:11 am

Russian steel makers MMK & ETP GPB have signed a Memorandum of Cooperation and Cooperation at the St Petersburg International Gas Forum. The parties agreed to develop a long-term and mutually beneficial partnership that will help improve the efficiency of their economic activities. The main activities of MMK and ETP GPB within the framework of the document will be joint work on the creation and development of a project for the integration of marketplaces. This will provide direct access for buyers to the manufacturer, create services aimed at digital transformation in metallurgy, and also support domestic manufacturers.

MMK and ETP GPB will also jointly study and use the experience of domestic and foreign companies in the development of projects and programs in the field of digitalization, and hold events to expand the possibilities for their implementation.

Founded in 2004, Moscow headquartered ETP GPB operates in the Data Processing, Hosting, and Related Services industry. Over the ten years of operation, ETP GPB has become a multifunctional service bureau for clients from various sectors of the Russian industry and is developing specialized solutions in the field of metallurgy.

voda 21 september 2022 07:36

Chinese Steel Giant Baowu Ranks 14 in Manufacturing Enterprises

Strategic Research Institute
Published on :
21 Sep, 2022, 6:14 am

On 6 September 2022 China's Top 500 Enterprises and 2022 China's Top 500 Manufacturing Enterprises lists were released and Chinese steel giant Baowu ranked 14th in the 2022 China's Top 500 Enterprises, up 11 places, & 10th In the list of Top 100 Chinese Large Enterprises, up 2 places from 2021It also ranked first in the list of steel companies and second in the list of 2022 China's Top 500 Manufacturing Enterprises, which is 6 places higher than last year. Baowu also ranked first in the list of steel companies

2022 Top 500 Chinese Enterprises

State Grid Corporation of China

China National Petroleum Corporation

China Petrochemical Corporation

China Construction, Industrial & Commercial Bank of China

China Construction Bank

Ping An Insurance of China

Agricultural Bank of China

China Sinochem Holdings

China Railway Engineering Group

2022 China's top 500 manufacturing industries

China Petrochemical Corporation

China Baowu

China Minmetals

SAIC Motor

Hengli Group

The lists are released by China Enterprise Confederation and China Entrepreneurs Association.

voda 21 september 2022 07:36

Bangladesh Steel Industry Facing Double Whammy

Strategic Research Institute
Published on :
21 Sep, 2022, 6:17 am

The Daily Star reported that the steel industry in Bangladesh is currently witnessing 50% drop in sales to 250,000 tonne, even though the annual demand for steel products is about 6 million tonnes in normal times, as the depreciation of taka against US dollar has hiked production costs at a time when consumers are unwilling to pay higher prices. The report quoted Bangladesh Steel Manufacturers Association Secretary General & Metrocem Steel Managing Director Md Shahidullah as saying that “Steel manufacturers opened letters of credit at rates of BDT 84-86 per US dollar six months ago but are now having to settle import bills by buying each greenback at BDT 108. We reduced production by 50% to bring down losses in the face of increasing costs. We are just trying to keep the factory alive while having to pay bank installments and workers wages.”

He added “With this backdrop, the cost of raw materials has increased by 30% cent, which is quite abnormal and demand has vanished.”

According to report, rebar in Bangladesh is priced at BDT 95,000-107,000 (USD 915-1030) per tonne in different districts, up 17% YoY.

voda 21 september 2022 07:38

Outokumpu Appoints Mr Henrik Rodenström as SVP Treasury

Strategic Research Institute
Published on :
21 Sep, 2022, 6:19 am

Finland headquartered stainless steel giant Outokumpu has appointed Mr Henrik Rodenström as SVP Treasury as of 1 October 2022. He will report to CFO Pia Aaltonen-Forsell. Mr Rodenström has a profound background in process-oriented companies and has worked in various senior treasury and finance positions in Stora Enso, Munksjö and SSAB. Currently, he is holding the position of Head of Group Treasury at SSAB. He has a master’s degree in business studies and economics.

Outokumpu Oyj is a group of international companies headquartered in Helsinki in Finland, employing 10,600 employees in more than 30 countries. Outokumpu is the largest producer of stainless steel in Europe and the second largest producer in the Americas.

voda 21 september 2022 07:39

Russula Building Rolling Mill at Celsa Bayonne in France

Strategic Research Institute
Published on :
21 Sep, 2022, 6:21 am

Celsa Bayonne

A Coruña based Spanish technology supplier Russula is executing a new steel rolling mill for the Catalan multinational steel company Celsa in the French city of Bayonne. This infrastructure involves an investment of EUR 65 million and will have production capacity of 550,000 tonnes of rolled products per year. It will generate revenues of around 300 million euros per year.

Russula General Manager Ms Eva Maneiro said “We are a Galician company with an international soul. We have not been internationalized, we were born internationalized. It has been that way since the company was created in 1988 by my father Mr Manuel Maneiro, who is still its current president. 90% of Russula's supplies for its contracts are made in Spain, a good part of them in Galicia.”

Russula, which since its inception has carried out projects for more than one hundred steel plants in 35 countries, is currently in an expansionary phase, with a turnover growth of 76 % in the last seven years. Its foreign turnover is 99.1 %, practically all of its operating income.

voda 21 september 2022 07:39

Rockwell Automation to Transform Maintenance at Barrett Steel inUK

Strategic Research Institute
Published on :
21 Sep, 2022, 6:25 am

Leading industrial automation & digital transformation solution n provider Rockwell Automation announced that UK’s largest independent steel stockholder Barrett Steel has chosen the Fiix Computerized Maintenance Management System to manage its ongoing maintenance programs and reduce downtime. The deployment of the CMMS from Fiix is part of a digital transformation of Barrett Steel’s maintenance activities, with the aim of streamlining, simplifying and mobilizing the entire program.

The steel stockholder had already deployed an OEE system developed and installed by CHG, a trusted supplier of Barrett Steel and a Rockwell Automation recognized system integrator. CHG recognized that the Fiix CMMS would be ideal to develop and scale the system further and partnered with Rockwell Automation to create a tailored solution, based around a five-year ROI project.

Fiix by Rockwell Automation is the software-as-a-service (SaaS) maintenance management platform that combines mobile asset management, work order, and parts management and supercharges it with the most open integration network and AI-driven insights. With Fiix, you can connect shop floor IoT solutions, parts suppliers, contractors, and corporate IT systems quickly and easily to improve the Fiix’s cloud-native CMMS creates workflows for the scheduling, organizing, and tracking of equipment maintenance, connecting seamlessly to business systems to drive data-driven decisions. As one of the world’s most widely used CMMS solutions, Fiix has more than 2 million assets under management and creates more than 6 million work orders per year.

Another essential element of the maintenance-operations transformation is the ThingWorx SaaS-based SCP (smart connected products) package from PTC, which connects all the business systems together, displaying the correct information to the correct people. ThingWorx provides the functionality, flexibility, and scalability that businesses need to drive industrial innovation, including the ability to source, contextualize and synthesize data, while orchestrating processes and delivering powerful web, mobile and AR experiences.

Barrett Steel is the UK’s largest independent British steel stockholder, with its own distribution fleet and sites across the UK. With extensive world class steel-processing facilities, its expertise and advanced specialist skills have ensured the outstanding success of a diverse range of high-profile projects around the globe, cementing its reputation as the number one supplier in the steel stockholding industry.

voda 21 september 2022 07:40

Worker Killed at Hai Kwang Enterprise Plant in Kaohsiung in Taiwan

Strategic Research Institute
Published on :
21 Sep, 2022, 6:26 am

CAN reported that a 41 year old migrant worker from Vietnam died on 20 September when a pile of slag exploded at Hai Kwang Enterprise Corp’s steel plant in Kaohsiung in Taiwan. The employee was using an excavator to crush slag when it exploded, engulfing his vehicle in flames before he was able to flee.

A preliminary investigation determined that the explosion may have been caused by the contact of hot slag with water

Operations at the facility have been suspended.

voda 21 september 2022 07:40

Zekelman to Break Ground on Steel Tube Plant in Blytheville

Strategic Research Institute
Published on :
21 Sep, 2022, 6:28 am

North American steel pipe leader Zekelman Industries announced that construction will begin in December on its new inline steel tube galvanizing factory in Blytheville in Arkansas in US. Similar to the company's most recent expansion in Rochelle in Illinois, this factory will utilize best-in-class manufacturing technology and a fully automated Matter warehouse system. This facility is designed to set industry-leading benchmarks for safety, product quality and service.

When completed, the production lines will have an annual operating capacity exceeding 200,000 tons. The facility will produce tubes featuring Wheatland's leading ThunderCoat inline galvanized coating. The factory will also support the fence, solar and mechanical markets. Commissioning of the mills is expected to begin in late 2023.

This is Zekelman Industries' third major investment in Arkansas, having recently commissioned its Jumbo HSS mill there in early 2022. This new Wheatland facility will share a campus with Zekelman's existing Atlas Tube operations in Blytheville, a growing industrial sector in northeast Arkansas that also offers excellent access to domestic steel production and multiple transportation options.

Zekelman Industries includes the operating divisions of Atlas Tube, Picoma, Sharon Tube, Wheatland Tube, Western Tube and Z Modular. It is the largest independent manufacturer of hollow structural sections and steel pipe, and the top producer of electrical conduit and elbows, couplings and nipples in North America. Zekelman Industries delivers a broad range of pipe and tube solutions that build its customers' success.

voda 21 september 2022 07:41

Nucor Brandenburg Plate Mill Pursuing LEED v4 Certification

Strategic Research Institute
Published on :
21 Sep, 2022, 6:30 am

Charlotte North Carolina headquartered steel maker Nucor Corporation announced today that the new steel plate mill being built in Brandenburg in Kentucky has publicly registered to pursue LEED v4 for Building and Design certification. Nucor Steel Brandenburg is the first steel mill in the world to pursue certification under LEED v4, which is more stringent than previous LEED rating systems and ambitiously aligns each credit category with sustainable performance, climate change, and revolutionizes the manufacturing landscape through third-party transparency and reporting requirements.

The specific LEED features of Nucor Steel Brandenburg include preservation of a large portion of forested area on the property, lighting reduction strategies, reduced parking footprint, support for green vehicles, and water and energy efficiency measures. In addition, over 75% of the construction waste generated building the steel mill has been diverted from landfills. Sustainable building materials, many directly produced by Nucor divisions, have also been used in the construction of the mill.

Expected to begin production at the end of 2022, the new USD 1.7 billion Nucor Steel Brandenburg facility will produce 1.2 million tons of steel plate annually. It will be able to produce 97% of plate products consumed domestically and will be one of only a few mills in the world capable of supplying the critical steel components required to build offshore wind farms.

The US Green Building Council created the LEED rating in 1998 as a way to standardize and recognize sustainable construction methods. Since the first release LEED v1 subsequent versions have pushed the building industry towards higher levels of sustainable design and construction. The current rating system is LEED v4.

voda 21 september 2022 07:41

SARRALLE Joins Spanish Hydrogen Association AeH2

Strategic Research Institute
Published on :
21 Sep, 2022, 6:32 am

Spain headquartered technology supplier SARRALLE on its way to help steel companies in the challenge of decarbonization, sustainability and energy savings in the steelmaking process, is now a member of the Spanish Hydrogen Association AeH2.

The Spanish Hydrogen Association AeH2 is the voice of the hydrogen industry in Spain. It represents more than 300 partners from across the hydrogen value chain, including renewable energy promoters, equipment, and component manufacturers, engineering and EPC, Oil & Gas, industrial gases, transport, organizations linked to the sector, etc. Among its partners are the most active companies, institutions and researchers in Spain regarding these technologies, which are active in hydrogen and fuel cells and are convinced that these technologies have great economic potential.

The AeH2, positioned as a reference agent within the hydrogen sector, has been working since its foundation in 2002, to encourage, promote and drive the technological and industrial development of hydrogen technologies in our country, to ensure that their positive impact reverts on the Spanish society and economy.

voda 21 september 2022 07:42

Oshkosh to Use SSAB’s Fossil-Free Steel in Commercial Vehicles

Strategic Research Institute
Published on :
21 Sep, 2022, 6:34 am

Sweden’s leading clean steel maker SSAB has started a partnership in fossil-free steel applications with leading innovator of mission-critical vehicles and essential equipment, including heavy duty truck bodies, fire apparatus, access equipment and other specialty trucks Oshkosh Corporation. Oshkosh Corporation will initially use the fossil-free steel for material with the aim to prototype advanced, environmentally sustainable refuse collection vehicles, and plans future research and development initiatives across multiple commercial vehicle product lines of McNeilus Truck and Manufacturing.

SSAB aims to deliver fossil-free steel to the market in commercial scale during 2026, and delivered the first steel made of hydrogen-reduced iron in 2021. SSAB works with iron ore producer LKAB and energy company Vattenfall in Sweden as part of the HYBRIT initiative to develop a value chain for fossil-free iron- and steel production, replacing coking coal traditionally needed for iron ore-based steelmaking, with fossil-free electricity and hydrogen. This process virtually eliminates carbon dioxide-emissions in steel production.

voda 21 september 2022 07:43

Hyundai Steel Unions Threaten Strike amid Supply Shortage

Strategic Research Institute
Published on :
21 Sep, 2022, 6:36 am

Business Korea has reported that amid growing concerns about the supply of steel products due to flood damage at POSCO’s Pohang Works, Hyundai Steel’s labor union threatened that it would go on strike if the management does not come to the negotiation table. 4 branches of Hyundai Steel workers trade union at Dangjin, Incheon, Pohang and Dangjin Hysco said “We sent a proposal for wage and collective bargaining for 2022 to the management on March 16 and proposed that the first round of the negotiations be held on 3 June. But the management has not participated in any of the 15 rounds of negotiations held until 15 September.”

The union's demands included a raise of KWR 165,200 (USD 118) in the basic salary and payment of 15% of the company's operating profit in 2021 as a performance-based bonus. The union has also been occupying the office of the president of Dangjin Works for over 140 days, demanding a special incentive of KWR 4 million (USD 2868) per worker, just as other group affiliates such as Hyundai Motor and Kia Corp did.

If the labor union of Hyundai Steel goes on strike at a time when POSCO's Pohang Works suffered flood damage, steel supply disruptions will worsen.

voda 21 september 2022 07:43

Metinvest Trametal & Ferriera Valsider Sourcing Non-Russian Slabs

Strategic Research Institute
Published on :
21 Sep, 2022, 6:38 am

Interfax Ukraine reported that Metinvest’s Italian plants are receiving slab feedstock for rolling from European, Asian and Latin American suppliers. Metinvest CEO Mr Yuriy Ryzhenkov in an interview with NV Business said “Metinvest Trametal and Ferriera Valsider are now buying slab in Southeast Asia, looking at Brazilian slab and also purchasing European slab, including from Acciaierie di Italia. Negotiations are also underway with US Steel Kosice and Liberty Steel. We are looking for slab in small batches.”

Mr Ryzhenkov also said “Semi-finished products are also coming from Zaporizhzhya, where one of the group’s assets, the Zaporizhstal plant, is located. The process of setting up production of slab is still ongoing at Zaporizhstal. This is a rolled slab, but we already have the first successes. We make an ingot from converter steel at Kametstal; after that we roll it into a slab at Zaporizhstal. The slab then goes to European units for rolling.”

Before the full-scale Russian invasion of Ukraine, the company’s Italian enterprises Metinvest Trametal & Ferriera Valsider received slab from Azovstal in Mariupol, which now is occupied. Metinvest Group has decided to carry out planned repairs at the Italian rolling mills, Metinvest Trametal and Ferriera Valsider in May 2022 & resumed production in June

Founded in 1985, Trametal was sold to Metinvest in 2006. Metinvest Trametal is a quarto steel plate re-roller located in San Giorgio di Nogaro with an installed capacity of 600000 tonnes

Founded in 2001, Ferriera Valsider produces a wide range of quarto plates and hot rolled coils. Ferriera Valsider is located in Vallese di Oppeano, in the province of Verona, Italy, and its production capacities reach 400 ktonnes of plate and 600 ktonnes of HRC per year. Metinvest BV became owner of the 70% of the shares of Ferriera Valsider in 2006.

voda 21 september 2022 07:46

European Commission’s Trade Measures Support Domestic Industry

Strategic Research Institute
Published on :
21 Sep, 2022, 6:50 am

The European Commission has published its Annual Report on the EU's trade defence activities of 2021. The Report concludes that 462,000 EU jobs were directly protected by the EU's trade measures in 2021 in key EU manufacturing sectors such as aluminium, steel, ceramics and green technology showing that EU measures are effective in defending EU producers against unfair international trade practices.

Executive Vice-President and Commissioner for Trade Mr Valdis Dombrovskis said “Defending European producers and workers against the damage inflicted by those who do not play by trade rules is essential. Ensuring fair trade is more important than ever in today's challenging global environment and when security of supply is under threat. We cannot allow dumped or subsidised imports to damage EU industry. This is why the effective enforcement and implementation of our trade defence measures remains a top priority for the European Commission.”

In 2021, the European Commission opened only handful of new anti-dumping investigations for steel products as the existing safeguard mechanism regulates the import market in Europe effectively. However, a WTO panel raised some questions to the European Commission on the safeguard measures, following a complaint by Turkey. The European Commission now has until the end of the year to respond to the WTO questions

There were 163 definitive trade defence measures in force in the EU at the end of 2021, the majority being anti-dumping measures. The Commission initiated 14 new investigations in 2021, including 11 anti-dumping and 3 anti-subsidy investigations.

voda 21 september 2022 07:46

Danieli to Upgrade HSM Finishing Area of Jindal United Stainless

Strategic Research Institute
Published on :
21 Sep, 2022, 6:53 am

India’s leading stainless steel maker Jindal United Stainless has selected Danieli Service to supply a new downcoiler 2 for upgrading its hot-strip mill down coiler area at Jajpur plant in India, which is producing stainless-steel grades 200, 300, 400 series. In addition to the selected new mechanical equipment side guides, downcoiler, coil stripper and coil lifting cars, the scope of supply also includes the engineering and advisory services for the installation.

The new downcoiler will be able to coil up to 36 tonnes hot strip coils with a maximum thickness of 22mm and 1650mm wide, at a coiling speed of 16 meters per second, controlled by a new Danieli Automation electrical and automation package.

The erection and commissioning activities will be performed within the agreed schedule from the contract coming into force.

voda 21 september 2022 07:47

Russia Mobilises 500 Employees of Yenakiieve Steel in Donetsk

Strategic Research Institute
Published on :
21 Sep, 2022, 6:55 am

Pravda Ukraine reported that the General Staff of the Armed Forces of Ukraine has confirmed that Russian occupiers have revoked the deferment of mobilisation for around 500 workers of the Yenakiieve Iron and Steel Works in the Russian-occupied city of Yenakiieve in Donetsk Oblast. According to the information available, the deferment of mobilisation issued to around 500 employees of the Yenakiieve Iron and Steel Works has been revoked as of 14 September. The General Staff reports that four motor rifle battalions are being formed from among the troops of the 36th Separate Motor Rifle Brigade of the 29th Combined Arms Army of the Eastern Military District of the Russian Armed Forces, whose base is in the town of Borzya in the Zabaikal Krai. Officer positions in these battalions are staffed by teachers of the Far Eastern Higher Combined Arms Command School. In addition, men have been banned from leaving the temporarily occupied territory of Crimea without obtaining a special permission from military commissariats. Metinvest’s Yenakiieve Iron & Steel Works is an integrated steel works in Makiivka in Donetsk Oblast with history of more than one hundred years, Production facilities with rated output enable to produce 2.065 million tonnes of hot metal per year 2.8 million tonnes of steel per year About 0.5 million tonnes of rolled products per year.

voda 21 september 2022 07:48

Alleima to Invest In Heat Exchanger Tube Plant in Mehsana in India

Strategic Research Institute
Published on :
21 Sep, 2022, 6:56 am

Last year Alleima, former Sandvik Materials Technology, a global manufacturer of advanced stainless steels, special alloys, and heating systems, announced the investment and expansion of its Mehsana manufacturing facility in India. As part of the formerly announcement, today the third phase of the expansion will start, which include the set-up of a new heat exchanger tube factory. The new factory will meet burgeoning demand of locally manufactured products in India.

The Mehsana manufacturing facility has been successively expanded and modernized in recent years to increase availability of high quality seamless stainless steel and high alloy tubes as well as to strengthen service in the region. Alleima Mehsana is a high-tech tube mill situated in Gujarat, western India, that produces advanced corrosion resistant tube, pipe and hollows for heat exchangers and process equipment across a wide range of industries. Grades range from austenitic stainless steel to duplexes and austenitic high nickel alloys. The mill has an advanced modern laboratory to test metals and particular tests are undertaken to measure the tensile strength, yield strength, test for flattening, flaring, grain size, micro characterization, and many others. Standards fulfilled include ASTM, ASME, EN, NACE 0101/0175 and other customers specifications.

The first phase of this growth initiative was completed in 2020 when Alleima added a new cold finishing tube manufacturing line mainly for heat exchanger tubing and other demanding industrial applications. The second phase of the investment was setting up a bright annealed and finishing line for heat exchanger, along with hydraulic and instrumentation tube factory which will help to cater to the growth in the natural gas segment. The investment during the third phase, the set-up of a new heat exchanger tube factory will be fully completed and operational by Q3 2023.

Alleima, formerly Sandvik Materials Technology, is a global manufacturer of high value-added products in advanced stainless steels and special alloys as well as solutions for industrial heating.

voda 21 september 2022 07:48

MENA Region Can Lead Global Steel Decarbonisation

Strategic Research Institute
Published on :
21 Sep, 2022, 6:57 am

A new report from the Institute for Energy Economics and Financial Analysis finds that as the global steel industry eyes switching to direct reduced iron production and using green hydrogen to reduce emissions, the Middle East and North Africa region is in a prime position to start producing carbon-neutral or green steel. Report Author Mr Soroush Basirat wrote “The MENA region can lead the world if it shifts promptly to renewables and applies green hydrogen in its steel sector.”

Mr Basirat said “The DRI-EAF process, which uses syngas made from natural gas or gasified coal and also electricity, could be zero emissions if green hydrogen, produced using renewable energy-powered electrolysis, and electric arc furnaces powered by renewable energy were used. MENA has an established supply of DR-grade iron ore and its iron ore pelletising plants are among the world’s largest. In 2021, MENA produced just 3% of global crude steel but accounted for nearly 46% of the world’s DRI production. MENA’s knowledge of this specific steel technology is an invaluable asset. This production knowledge, abetted by further work on iron ore beneficiation, pelletising and DR plants, is among the most important steel decarbonisation pillars, and will greatly assist MENA’s transition.

Mr Basirat added “Compared to other regions, MENA’s existing DRI-EAF capacity means no extra investment is needed for replacing the base technology. All new investment could be focused on expanding production of green hydrogen among other renewables. If it acts fast, MENA has the potential to lead the world in green steel production.”

Mr Basirat also said that “MENA has excellent solar resources to aid production of green hydrogen from renewable electricity. A switch from gas-fuelled DRI to green hydrogen could commence ahead of other regions, given MENA’s in situ capacity of DRI-EAF. Initially, it would be possible to replace 30% of gas with hydrogen in the incumbent fleet of DR plants without any major equipment modifications. The region could then move towards 100% green hydrogen to produce carbon-free steel.”

The World Bank found MENA has the highest photovoltaic power potential capacity globally and could theoretically produce more than 5.8 kilowatt hours per square metre daily. It is predicted that 83 gigawatts of wind and 334GW of solar power will be added by 2050, increasing the share of wind and solar from 1% and 2% respectively to 9% and 24%.

The Institute for Energy Economics and Financial Analysis examines issues related to energy markets, trends, and policies. The Institute’s mission is to accelerate the transition to a diverse, sustainable and profitable energy economy.

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