Abengoa enters the South Korean steel dust recycling
Abengoa through its industrial waste recycling division,
Befesa, has reached an agreement to acquire 100 % of the
South Korean company Hankook R&M. The firm specializes in
recycling steel dusts and is constructing a plant in the
city of Gyeongju, in the south eastern part of the
country, which will come into operation in the first
quarter of 2013. Abengoa will be responsible for
operating the plant.
The new plant, which will serve the principal steelmakers
in the region, will be capable of recycling 110,000 t/
year of steel dusts, which will bring Abengoa's capacity
to 750,000 t/ year by 2013. The plant will use advanced
SDHL technology, developed and patented by Abengoa, which
is a safer and more sustainable technique for recycling
steel dusts. The technology achieves higher levels of
zinc recovery and is more energy efficient, minimizing
waste and improving the recycling process among South
Korea's steel manufacturers.
The South Korean market represents an excellent business
opportunity for the company, as the world's fourth
largest producer of steel dusts with an estimated volume
of 500,000 t/ year.
This new investment represents an important milestone in
Abengoa's global development and a strategic step forward
in its ambitious international expansion plan for its
industrial waste division, which is consolidating its
position as a leader in the sector in new countries. The
company recently began to develop two new steel dust
recycling projects in Turkey, where it will have three
plants by 2014, in addition to those that are already
operational in Germany, France, Sweden and Spain.