ArcelorMittal to Push for Decarbonisation in Belgium With EUR1.1 Billion Project
September 28 2021 - 5:12AM
Dow Jones News
By Mauro Orru
ArcelorMittal will build a special plant and two new electric
furnaces in Belgium for an investment of 1.1 billion euros ($1.29
billion) as its Belgian affiliate doubles down on its efforts to
cut carbon emissions by 3.9 million metric tons a year by 2030.
The Luxembourg-based steel-and-mining company said Tuesday that
it has inked a letter of intent with the governments of Belgium and
Flanders, paving the way for the project to build a direct reduced
iron plant and two new electric furnaces at its Ghent site.
The new plant will use natural gas, and potentially hydrogen,
instead of coal, reducing carbon emissions compared with blast
furnace ironmaking.
The two electric furnaces will melt the direct reduced iron and
scrap steel, which will then be transformed in the steel shop into
steel slabs and then further processed into finished products.
"The support of both the national and the Flanders governments
in this project is crucial given the significant cost associated
with the transition to carbon-neutral steelmaking," the company
said.
The European Commission will have to grant approval for funding
support.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
September 28, 2021 04:57 ET (08:57 GMT)
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