ArcelorMittal Invests EUR300 Million With French State for Electrical-Steel Production
March 17 2022 - 7:20AM
Dow Jones News
By Ed Frankl
ArcelorMittal said Thursday that it would invest more than 300
million euros ($331 million) in France with government support to
create a new production unit for electrical steels.
The new production unit at ArcelorMittal's site in Mardyck, in
the north of the country, will specialize in the production of
electrical steels for the engines of electric vehicles, the
steelmaker said.
The unit, which complements ArcelorMittal's existing
electrical-steel plant in Saint-Chely d'Apcher, in the south of
France, will have a 200,000-ton production capacity and is
scheduled to start up in 2024, it said.
The financial contributions of ArcelorMittal and the French
state were not disclosed.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
March 17, 2022 07:05 ET (11:05 GMT)
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