The Spanish steel group Megasa will invest around 300 million euros in Portugal, including the construction of photovoltaic electricity generation units for self-consumption at its factories in Seixal and Maia. The company justifies the investment with the need to reduce dependence on market electricity prices, affected by conflicts in the Middle East and transformations in the European energy system.
The Spanish steel company, owner of Siderurgia Nacional, considers that the decision of the Government of Luís Montenegro to extend State compensation for indirect CO2 costs is fundamental for the future of the steel industry in Portugal, at a time when steel plant closures are occurring in Europe and many others are at risk. The support consists of compensation through partial reimbursement of indirect emission costs to help energy-intensive companies cope with rising electricity prices.
Megasa emphasizes that energy is its second highest production cost, only surpassed by the acquisition of raw materials (ferrous scrap), with the Seixal and Maia factories being the two largest electricity consumers in the country. The company states that since governments cannot intervene in the formation of electricity prices in the Iberian market, the executive's decision has a direct impact on the competitiveness of electro-intensive industries.
The Spanish group, which claims to be the fourth largest European long steel products steel group, has a turnover of 1,800 million euros, of which 1,200 million comes from the two factories in Portugal.
