Kobe Steel is to target growing demand for Direct Reduced Iron (DRI) processes and stepping up feasibility studies on a low CO2 iron metallics project in Oman ahead of launching production in 2027.
The engineering revamp could achieve net sales of ¥250bn in fiscal 2030 while net sales of products that contribute to reducing emissions reach as much as ¥550bn by the same year.
The company, marking its 125th anniversary next year, continues to work building an ammonia supply chain and purchase equipment with funds obtained from winning the long-term decarbonisation power source auction.
DRI involves the removal of oxygen from iron ore or other iron bearing materials in the solid state, i.e. without melting, as in the blast furnace.
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