Jingjiang Special Steel Co Ltd, a member of CITIC Pacific Special Steel Group Co Ltd, launched a near-zero carbon emissions electric furnace steel production plant on Feb 1 in Jingjiang city – a county-level city administered by Taizhou city, in East China's Jiangsu province.
The signing ceremony takes place in Jingjiang city. [Photo/WeChat account: ZGJJKFQ]
The initiative is said to represent a critical advancement in low-carbon metallurgical technology research and aims to be the first national-level demonstration project for short-flow steelmaking in an electric furnace – aiming to significantly reduce carbon emissions in the sector.
The plant is predicted to generate annual sales revenue of 3 billion yuan ($416.84 million) and contribute over 100 million yuan in tax revenue.
With an estimated investment of 3 billion yuan, it will leverage the resources of CITIC Pacific Special Steel Group Co Ltd – integrating personnel, technology and operational resources.
It's also expected to demonstrate the entire process of near-zero carbon emissions electric furnace steelmaking – combining industrial supply chain resources and constructing projects for near-zero carbon emissions electric furnace steelmaking, green power energy and biogas production.
This move is said to reflect Jingjiang's commitment to industrial development, particularly in strategic emerging industries such as metal materials and aerospace.
Since its establishment in Jingjiang in 2018, CITIC Pacific Special Steel Group Co Ltd has increased its investment in technological reforms. This is understood to have contributed significantly to the city's economic development.