Ovako announces a major investment in a cutting-edge vacuum tank degassing facility at its Hofors mill. This 17-million Euro commitment is a testament to Ovako's dedication to advance our metallurgy, and displays the significant commitment our owners, Sanyo Special Steel and Nippon Steel Corporation have to continue to further develop our metallurgies and reduce CO2 emissions at the same time.
The investment comprises two key components. First, a state-of-the-art degassing facility, aligning with our already modern installations in Smedjebacken and Imatra. Secondly, mechanical vacuum pumps, enabling in-house vacuum generation.
The new vacuum tank degassing facility is set to further modernize operations in Hofors. Its primary role is to provide the stability required for the long-term development of our metallurgy. This facility not only enhances the quality of our products but also strengthens and further improves the steel mill´s overall performance. The technology also improves the vacuum production in the facility by replacing steam jet pumps with mechanical pumps, thereby reducing energy consumption and CO2 emissions, as well as improving overall efficiency.
-The investment in this vacuum tank degassing facility underscores Ovako's dedication to embracing innovative technologies and sustainable practices. It demonstrates our unwavering commitment to delivering high-quality steel products while minimizing our environmental footprint, says Marcus Hedblom, President and CEO for Ovako Group.
-This achievement culminates in a long journey, requiring dedication from many within the organization. After careful review and approvals from stakeholders, including Sanyo Special Steel, Nippon Steel Corporation, and Ovako's board, the practical work can begin, concludes Rickard Qvarfort, President Business Unit Hofors-Hellefors
The goal is to have the facility fully operational by late 2024 or early 2025.