Liberty Steel plans to double the production at its Rotherham steel mill in UK acquired from Tata Steel in 2018.
According to media reports, the company owned by the GFG Alliance plans to invest in increasing the output and diversify the product range at the mill, which was producing around 225,000mt of steel per year when the company acquired it. Liberty Steel indicated it plans to reach an output of 1mn mt per year at Rotherham over the next 3-5 years.
The expansion will be part of Liberty’s “Greensteel Initiative,” which focuses on scrap recycling to provide for growing demand from various sectors, with reduced emissions.
Under this initiative, Sanjeev Gupta, chairman, Liberty steel said, the company has made vital upgrades to its plants such as switching to electric-arc furnaces (EAFs) and doubling production levels in order to increase profitability from the setbacks suffered by the company during Brexit in 2019, followed by the COVID-19 pandemic.
Moreover, he added that the company was vying for a larger market share in the construction industry by offering competitive rebar prices. Liberty Steel also plans to provide materials for the construction of HS2 – a high speed rail connecting London to northern England. Construction was approved by the authorities in April this year.