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  "documentTitle": "Befesa Investor Presentation Goldman Sachs 4th Annual Carbonomics Conference",
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  "notes": "Includes specific capacity expansion targets and financial projections for Befesa's China operations.",
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      "text": "Ministry targets EAF share of 15% by 2025 / 20% by 2030 and 60 Mt of targeted 90 Mt EAF steel already announced",
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      "text": "EAFD generation in China expected to increase about 1.6 Mt by 2030 as it transitions from BOF to EAF; Befesa to add 3x 110 kt = 330 kt new capacity which will increase market share to 15–20%",
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      "text": "Befesa's expansion projects: Monitoring recovery from COVID, Expanding into additional provinces, Scale up existing plant sites, Risk-averse financing approach",
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      "text": "c. €115–125m total investment; c. €25–30m total incremental EBITDA p.a.; Cautious risk-averse approach",
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      "text": "1 S&P Global Commodity Insights (Aug 2022); Macquarie (June 2022)",
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      "text": "SGGP – Steel Dust – China",
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