According to foreign media reports on Wednesday, British metal tycoon SanjeevGupta's GFG Alliance will invest 2 billion euros ($ 2.161 billion) in two steel mills in Romania and the Czech Republic to achieve these Plants reduce emissions and increase production. Part of the funds invested will be used to install electric furnaces, which can reduce carbon emissions by about 60%.

The GFG Alliance will invest € 1 billion in the Galati steel plant in Romania, € 750 million in the Ostrava steel plant in the Czech Republic, and the remaining € 250 million will be invested in other GFG steel mills.

The current annual production capacity of the Galati steel plant is 3.6 million tons, and the annual production capacity of the Ostrava steel plant is 3 million tons. The investment is expected to increase Galati's annual output to 4 million tons, while for the Ostrava steel mill, annual output growth may exceed 50%.

GFGAlliance started as a metal trader and then spent billions of dollars to acquire troubled metal manufacturing plants around the world. The company had previously acquired a bankrupt steel company in India for $ 60 million.

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