Amidst the recent announcement of the closure of one of the UK’s largest steel plants, gasworld Business Intelligence takes a look at how similar closures over the past 12 months have affected industrial gas markets across the globe.
Sahaviriya Steel Industries (SSI) has announced that it is to mothball its operations in Redcar, in the North of England. The facility, with a production capacity of 3.6 million tonnes of steel per year, featured the second-largest blast furnace in Europe and was a major source of industrial gas demand in the UK.
In fact, in what was heralded as the largest industrial gas supply contract in the history of the UK, as recently as July, BOC entered into a 15-year deal to supply the SSI plant for all required gases. To support the contract, BOC invested approximately $25m in its Teesside site, upgrading the capacity of three of its ASUs.
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