The groundbreaking ceremony for the new special steel plant, which replaces the old steel plant, was held in 2018. Test operations and the process of certifying the product range are currently underway at the new plant. Until the certification process is complete, the new special steel plant will operate in test mode, in parallel with the old plant. It will become fully operational during the business year 2023/24. The investment volume amounts to around EUR 467 million. As already reported, the difficult business environment during the COVID-19 pandemic, as well as difficulties in the delivery of key equipment caused by suppliers, resulted in an increase of the originally planned investment of EUR 350 million. As a September 2023 Industrial Science Institute (IWI) study shows, the six-year investment period triggered significant economic effects both nationally and regionally. Construction of the new plant generated value of around EUR 350 million, up to EUR 230 million of which in Styria. In addition to the 3,500 jobs at voestalpine’s Styrian sites in Kapfenberg and Mürzzuschlag, during the construction phase the investment also secured around 2,500 jobs in Styria, and more than 4,200 in Austria as a whole.