Arabian Gulf Steel Industries (AGSI), a leading green steel manufacturer from Abu Dhabi, is considering the acquisition of the British company Speciality Steel UK (SSUK), which is currently in the process of liquidation.
This is reported by Finway
AGSI Among Bidders for British Metallurgical Assets
AGSI is on the list of potential buyers for SSUK. Interest in the deal is supported by efforts from the British authorities, who aim to preserve manufacturing capabilities and jobs in the country. Negotiations for the acquisition are ongoing, but details of the future agreement remain undisclosed.
Green Steel Strategy and Sustainable Development
AGSI positions itself as a zero-carbon steel producer. The company has set an ambitious goal to reach an annual output of 5 million tons of green steel by 2030 and to reduce its own emissions by 95%. To achieve these goals, AGSI employs electric arc furnaces (EAFs) that operate solely on 100% recycled steel, completely eliminating the use of fossil fuels.
The founder and CEO, Asam Hussein, emphasized that “sustainability has been integrated into the plant project from the very beginning, rather than added later.”