Voestalpine, one of the largest steel companies in Austria, has launched the construction of a fully automated steelworks in the south-west of Vienna.
It will become the first new steel plant in Europe built in the last 40 years. All construction activities are scheduled to be completed within three years. The steelworks will be capable of producing more than 200,000 tons of high-strength steel per year, becoming the largest such production facility in Europe.
The cost of construction and related works is estimated by the company at €350 million.
Dr. Wolfgang Eder, CEO of Voestalpine, said he was confident that European steel producers “were still able to work on a competitive basis.” He called the investments made by the company “a positive signal” for the entire European industry.