Nippon Steel has approved an investment of approximately €900 million at its European operating base, USSK Košice. The company plans to build an electric arc furnace and a new oxygen plant at the Košice steelworks, with operations scheduled to begin in 2030 and 2029, respectively.
Nippon Steel has approved an investment of approximately €900 million at USSK Košice, one of its key European operating bases, including the construction of an electric arc furnace and a new oxygen plant. The new electric arc furnace will have an annual production capacity of approximately 1.6 million tonnes and is scheduled to begin operations in 2030.
A new oxygen plant will also be built to support stable operations at the steelworks and reduce CO2 emissions. The oxygen plant is scheduled to begin operations in 2029.
The investment will receive a total of €350 million in subsidies from the EU Modernisation Fund, distributed through the Slovak government. The subsidies comprise €310 million for the electric arc furnace and €40 million for the oxygen plant.
On 13 May 2026, USSK is scheduled to become a direct subsidiary of Nippon Steel and change its name from USSK to Nippon Steel Slovakia, s.r.o. (NSSK). This will establish it as a core base for Nippon Steel’s European strategy.