Nippon Steel has invested over 6 billion US dollars in its process transformation plan

On May 30th, under the support of the "Green Transition Promotion Law" issued by the Japanese government, Nippon Steel announced a process transformation plan with a total investment of 868,763.02 billion yen (approximately 6.48 billion US dollars), deciding to shift from the traditional blast furnace - converter process to electric arc furnaces, with the aim of significantly reducing carbon emissions caused by steel production.

This plan includes the construction, expansion and restart of electric arc furnaces, etc. By the end of fiscal year 2029, Nippon Steel's electric furnace steel production capacity is planned to reach 2.9 million tons. Among them, the total investment of Nippon Steel in the construction projects of its three factories in Kyushu, Setonaikai and Yamaguchi is 868.7 billion yen (approximately 6.029 billion US dollars), and the government support ceiling is 251.4 billion yen (approximately 1.745 billion US dollars). The investment project contents include public auxiliary equipment, logistics, power supply systems, etc.

On March 1, 2021, Nippon Steel announced that it would adopt three paths to achieve carbon neutrality in its business operations, including mass-producing high-grade steel grades with large-tonnage electric arc furnaces, as well as directly reducing iron with hydrogen and injecting hydrogen into blast furnaces. The technological transformation plan of Nippon Steel has received strong support from the Japanese government. The Japanese government has selected Nippon Steel as an important component of the "Energy and Production Process Transformation Support Business from 2025 to 2029".

The series of low-carbon transformation investments carried out by Nippon Steel not only focus on the production capacity of electric furnace steel, but also on the quality of steel products. Its newly-built electric arc furnace will be equipped with advanced technology to produce high-quality steel. Although the process transformation plan of Nippon Steel has environmental benefits, it also faces financial risks. The investment is huge, and the increase in raw material and electricity prices may lead to an increase in production costs. Nippon Steel actively participates in the development of Japan's green steel market. It suggests visualizing the carbon reduction effect, advocates increasing the market's procurement of green steel products, encourages enterprises to reduce emissions, ensures that the value of green investment and green steel products is recognized, and guarantees that investment can be rewarded.

My company hot sale stainless steel pipe:

 TP304/304L, TP316/TP316L, TP347, stainless steel welded Pipes, stainless seamless pipes, stainless steel welded and seamless pipes, (1” to 48” sch10, sch20, sch40, sch80),

TP321, TP347 stainless steel seamless pipes, (1/2”to 24” seamless)