NZ, Bluescope to spend US$188mil to cut steel emissions

SYDNEY: New Zealand’s government and Bluescope Steel Ltd’s local unit will spend NZ$300mil (US$188mil or RM852mil) to upgrade a mill near Auckland in what they said was the nation’s largest emissions-reduction project.

Under the plan, the government will provide up to NZ$140mil (RM399mil) and New Zealand Steel NZ$160mil (RM456mil) to replace the Glenbrook steel plant’s oxygen furnace with an electric arc furnace and two of four coal-fuelled kilns.