Liberty’s technology partner has secured financial support for a significant investment at the Dunaujvaros steelworks in Hungary. In principle, China’s CISDI Engineering and China’s Export and Credit Insurance Corporation (Sinosure) have agreed to buyer’s credit insurance, covering EUR 1.3 bln (USD 1.42 bln). This agreement will facilitate the financing, export, and installation of a new electric arc furnace (EAF) facility at Liberty Dunaujvaros, with a capacity of three mln tons per annum.
The new facility will replace outdated coal-based steelmaking methods with advanced sustainable technology. It will feature two new 140-ton EAFs and an upgraded secondary metallurgy facility, capable of recycling steel scrap and direct reduction iron into high-quality slabs for further processing. The plant is expected to reduce direct CO2 emissions by approximately 80pct.
The investment will also upgrade existing hot rolling and galvanizing production lines and establish new lines to support high-value defense and automotive applications for Hungary’s expanding manufacturing sector.
Liberty Dunaujvaros, previously known as ISD Dunaferr, specializes in HR, CR, and hot-dip galvanized steel products. Liberty Steel acquired the steelmaker through liquidation in 2023 for around USD 54 mln.
1 USD / 0.91 EUR
