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Argentine steel service provider SIDERSA LR/EH55 steel announced that its green steel plant project located in San Nicolas, Buenos Aires Province, has officially passed the government's Large Investment Incentive Scheme (RIGI) approval, becoming the first approved industrial project under this mechanism. This move marks a key breakthrough in the sustainable transformation and import substitution strategy of Argentina's steel industry.
The project is jointly LR/EH55 steel supported by the Ministry of Economic Affairs and the Office of Production Development and Bioeconomy, with a planned investment of 286 million US dollars to build a long material production line with an annual output of 360000 tons. After being put into operation, the total annual production capacity will jump from 350000 tons to 710000 tons, achieving a 103% capacity expansion.
The core of the project adopts the short process technology of scrap steel electric arc furnace, equipped with advanced machinery and automation system, significantly improving environmental benefits and operational efficiency. The factory is expected to start construction this year and be put into operation within three years. This is Argentina's first steel plant investment project in 50 years, which will directly drive local employment and economy. According to relevant sources, the project can create 300 direct jobs and 4000 indirect jobs.
It is reported that 30% of the new factory's LR/EH55 steel production capacity will be used for exports, with an expected annual foreign exchange earnings of about 100 million US dollars; The remaining production will replace the current 14.5% dependence on long timber imports (import volume of 137000 tons in 2024), with a focus on ensuring supply security in the infrastructure sector.
