The Megasa Group, the fourth largest European long steel products group, announced an investment plan exceeding 300 million euros in its facilities in Portugal. The commitment comes within the scope of the Prime Minister's visit to the Seixal factory and following confirmation by the Government of the extension of compensation for indirect CO2 emission costs for the two-year period of 2025-2026. The government decision directly impacts the cost structure of electro-intensive industries at a time of strong pressure on the European steel sector.
The escalation of electricity prices, driven by Middle East geopolitics and the transformation of the European energy system, has forced the closure of several factories on the continent. Energy represents the second highest production cost for Megasa, only surpassed by the acquisition of ferrous scrap, and the units in Seixal and Maia are the two largest electricity consumers in the country.
With global turnover of 1,800 million euros, the group generates two-thirds of this value in Portugal, with approximately 60% of production destined for export. This production capacity ensures the country's strategic autonomy in the supply of long steel, an essential product for the economy.
The new investment package includes the construction of photovoltaic electricity generation units for self-consumption at the Seixal and Maia complexes, reducing the company's dependence on the volatility of the Iberian market. The group's management reinforces that it will continue to work in coordination with state entities to implement these projects and permanently monitor production costs in the sector.
