Australian BlueScope announced that it would speed up a feasibility study to build a new electric arc furnace (EAF) at its New Zealand Steel (NZ Steel) works at Glenbrook. The EAF construction will cost around NZ$300 million and will be co-funded by the New Zealand Government.

The new EAF was planned to be put into operation by 2026. It would reduce NZ Steel’s Scope 1 and 2 greenhouse gas emissions by at least 45%.

BlueScope targets to reach carbon neutrality by 2050.