My thought for the steel is, how much would it cost, and is there another use for the steel?
Like, this is gonna be a $60-100 Billion dollar project, an investment of $150-250 million to set up the steel production here might not be a bad investment if it also grows our domestic steel capacity that can supply other things; provided there’s a buyer for such things beyond submarines.
We already make a lot of steel, I don’t think it would hurt to add another steel product to the national portfolio.
Im skeptical but dont wanna dismiss. This is an MOU. There is no plan yet. Im sure there will be, but until then I am watching this with a cautious eye. No matter what this will be a major undertaking. The production of 1.3964 grade will require a fairly substantial investment in infrastructure by any mill to produce locally. It won't be cheap.
However I dont wanna dismiss. I await the plan, although I would love to see the financials here, and the economic case for producing a very specialized steel like this over the long-term. All about waiting for more info to come out though! We can't say anything until then.
Perhaps a podcast with the folks at Algoma, Marmen or even Patriot...there are probably other experts to sound in with the Buy Canadian policy announcement drop, there will be much interest and followers in the industry that may want to make expert opinions on the investment feasibility like your commentators have noted, especially with eu arrangements like SAFE likely making a key impact here for the potential domestic production for a massive demand order book for CPSP. Hopeful to see other major announcements for Canadian suppliers come to fruition publically as you've hinted.
Completely concur, an MOU is just and MOU until the contract is signed. It's interesting to consider though, and considering the size and duration of the project, I don't think it's entirely unreasonable either. The facility could be making steel for the submarines for 20 years, and maybe longer if there are other uses for that type of steel outside of submarines.
Indeed. It's the big holdup here. Marmen already have experience, although not with Nitronic 50 as far as I know, but they do have experience with Stainless and projects of this scale. Also have experience on American subs.
I'm not really worried on their front in any case. They have the capacity and the resources to take on this kind of project if they wanted.
I'm curious to see what Hanwha does in response to this announcement. They likely are not going to take this sitting down. Our industry only will benefit from this intense competition.
While I can’t answer for specific industrial processes i have done some blacksmithing & Worked a similar steel process. Not Easy to work with & I would imagine even harder when you are working with 1” plate or whatever the hull thickness would be. Be awful interesting to see what the big steel players have to say about a production line & if they will get the gov’t to invest heavily.
My thought for the steel is, how much would it cost, and is there another use for the steel?
Like, this is gonna be a $60-100 Billion dollar project, an investment of $150-250 million to set up the steel production here might not be a bad investment if it also grows our domestic steel capacity that can supply other things; provided there’s a buyer for such things beyond submarines.
We already make a lot of steel, I don’t think it would hurt to add another steel product to the national portfolio.
Im skeptical but dont wanna dismiss. This is an MOU. There is no plan yet. Im sure there will be, but until then I am watching this with a cautious eye. No matter what this will be a major undertaking. The production of 1.3964 grade will require a fairly substantial investment in infrastructure by any mill to produce locally. It won't be cheap.
However I dont wanna dismiss. I await the plan, although I would love to see the financials here, and the economic case for producing a very specialized steel like this over the long-term. All about waiting for more info to come out though! We can't say anything until then.
Perhaps a podcast with the folks at Algoma, Marmen or even Patriot...there are probably other experts to sound in with the Buy Canadian policy announcement drop, there will be much interest and followers in the industry that may want to make expert opinions on the investment feasibility like your commentators have noted, especially with eu arrangements like SAFE likely making a key impact here for the potential domestic production for a massive demand order book for CPSP. Hopeful to see other major announcements for Canadian suppliers come to fruition publically as you've hinted.
Oh, Ive already been in some contact with the Steel industry on this. Now I got specifics 🤣
Completely concur, an MOU is just and MOU until the contract is signed. It's interesting to consider though, and considering the size and duration of the project, I don't think it's entirely unreasonable either. The facility could be making steel for the submarines for 20 years, and maybe longer if there are other uses for that type of steel outside of submarines.
Indeed. It's the big holdup here. Marmen already have experience, although not with Nitronic 50 as far as I know, but they do have experience with Stainless and projects of this scale. Also have experience on American subs.
I'm not really worried on their front in any case. They have the capacity and the resources to take on this kind of project if they wanted.
I'm curious to see what Hanwha does in response to this announcement. They likely are not going to take this sitting down. Our industry only will benefit from this intense competition.
I would be keeping an eye out, all I'll say. I don't think this eill be TKMS last steel announcement either.
Do you think Hanwha is losing ground? I feel like were watching it slip away from them.
While I can’t answer for specific industrial processes i have done some blacksmithing & Worked a similar steel process. Not Easy to work with & I would imagine even harder when you are working with 1” plate or whatever the hull thickness would be. Be awful interesting to see what the big steel players have to say about a production line & if they will get the gov’t to invest heavily.