Ministry of Economy, Trade and Industry (METI) Considering Measures to Support Steel Industry’s Actual Installment of Next-generation Facilities

摘要

METI will consider establishing a system for supporting the Japanese steel industry’s installment of next-generation facilities including large-scale electric arc furnaces for manufacturing high-value steel so that the industry can realize carbon neutrality (CN) by 2050. In order for the steel industry to realize CN, it will be essential to actually implement and install innovative technologies and facilities including the use of existing blast furnaces. Although for research and development a public-private joint project utilizing the Green Innovation Fund will begin from this spring, there are limits to how much an individual company can pursue with regards to the actual installment of facilities since large amounts of capital will be needed.