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Dunaferr factory in Dunaújváros (central Hungary), a significant player in Hungarian heavy industry and the largest employer in its region, is undergoing a significant transition to embrace environmentally sustainable practices, receiving focused attention and support from the government.
The Ministry for National Economy is actively engaged in this endeavor, recognizing the imperative to adapt to evolving European regulatory standards. The company’s technological transformation is a central focus, with measures being implemented to facilitate the shift towards sustainable steel production. Additionally, employment programs have been initiated to foster inter-generational knowledge transfer, ensuring a smooth transition and promoting the integration of young job seekers into the workforce.
In parallel, Liberty Dunaújváros, part of the LIBERTY Steel Group, has announced plans to shutter inefficient coke ovens, marking a significant step towards reducing environmental impact and embracing green technologies.
The closure process, scheduled over several months, aims to minimize disruption while prioritizing safety and environmental considerations. Efforts are underway to support affected workers through retraining and redeployment initiatives, with a commitment to minimizing the socioeconomic impact of the transition.
The factory gate of Dunaferr (Dunaújváros). Photo: Wikipedia
Furthermore, Liberty Dunaújváros has outlined ambitious plans to invest in the transformation of its plant into a carbon-neutral steel producer. These investments signal a commitment to innovation and sustainability, with the adoption of electric arc furnace technology expected to substantially reduce carbon emissions and contribute to a cleaner, more environmentally friendly production process.
The broader context of these developments lies within the GFG Alliance’s overarching vision for sustainability and innovation.
Led by Sanjeev Gupta and his family, the GFG Alliance operates globally across multiple industries, advocating for a sustainable future. The alignment of Liberty Dunaújváros’ goals with the GFG Alliance’s values underscores a commitment to responsible business practices and environmental stewardship.
These initiatives follow Liberty Steel of India’s successful bid for ownership of Dunaferr’s steel assets in Dunaújváros, a pivotal moment in the company’s trajectory. Facing insolvency in 2022, due to conflicts among its Russian and Ukrainian owners, Dunaferr was on the brink of closure before government intervention secured its future. The European Union’s approval of the change in ownership in October 2023, marked a turning point, paving the way for Dunaferr’s revitalization and its transition towards a more sustainable future in the steel industry.
Via MTI; Featured Image: Pixabay