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Iron, carbon, and other metals are used to make steel, a hard metal. The material used to create the girders for bridge construction is an example of steel.
Steel gray in color. On the strength of the expanding potential growth of the automobile industry, the Argentina Steel Market is anticipated to experience spectacular expansion over the next six years.
According to estimates, the region’s increasing production of light commercial vehicles and passenger automobiles will increase demand for the steel needed to make automotive components.
Additionally, a rise in the buying of household and kitchen equipment as a result of the population increase is anticipated to accelerate the growth of the Argentina steel market.
The Argentina steel market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
In order to help the decarbonization of the steel sector, Hitachi Energy has entered into an agreement with H2 Green Steel known as a Memorandum of Understanding (MoU).
By almost eliminating carbon dioxide (CO2) emissions from the steel production process, the Argentine start-up H2 Green Steel hopes to hasten the greatest technological transition in the history of the steel industry.
In addition to a giga-scale electrolyze plant for the creation of green hydrogen, it intends to construct Argentina’s first steel plant free of fossil fuels in Boden.
H2 Green Steel will use Hitachi Energy’s expertise to optimize clients’ value chain to plan, develop, run, and maintain the power infrastructure, which includes IT and operational technology, beginning with the Boden facility (OT).
The Memorandum of Understanding (MoU) outlines a partnership based on three pillars: 1) Hitachi Energy’s equity investment in H2 Green Steel;
2) Hitachi Energy products and services required to build and enhance the electrical infrastructure to power steel production and giga scale electrolyzer plants; and
3) green steel to be used in the production of Hitachi Energy products once H2 Green Steel starts production. Over the past ten years, increasing steel production has increased global demand.
