South Korean steelmaker to invest $60 billion in Australian green steel ventures – pv magazine Australia (pv-magazine-australia.com)
Australia has been earmarked as pivotal for South Korean steelmaker Posco in its decarbonisation effort, with the company pledging to invest billions across the green steel supply chain – money which sits alongside massive investments it has already made in Australian resources iron ore, lithium and nickel.“We see Australia as the most important country in terms of investment for us to secure hydrogen which is essential for hydrogen steel manufacturing,”
Posco CEO Jeong-woo Choi said.“We plan to increase our investments in not only raw material for steel making but also across various fields in Australia including renewable energy, hydrogen and green steel. In terms of investment allocation, company has pledged $41.8 billion (USD 28b) for hydrogen production, including renewable energy generation and electrolysis. The further $18 billion (USD 12b) will go specifically towards green steel manufacturing."
That 28b number tallies with my previous post. They did say in this old post that they plan to spend 12b to green steel manufacturing. I can feel that money coming our way.
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