ArcelorMittal's French Steel Plants Get Near $2 Billion Decarbonization Fund
04 February 2022 - 10:56PM
Dow Jones News
By Ed Frankl
ArcelorMittal on Friday announced a 1.7 billion euro ($1.94
billion) investment program in decarbonization in France.
The investment, supported by the French government, will reduce
ArcelorMittal's carbon emissions by 40% in France by 2030, the
steelmaker said.
"This transformation will represent a 10% reduction in
greenhouse gas emissions from the manufacturing industry in France
and put France's steelmaking industry on the path of the Paris
Agreement," the Luxembourg-based company said.
The facilities, at the industrial company's sites in Fos-sur-Mer
in the south of the country and Dunkirk in the north, will be
operational from 2027, and will replace three out of five of
ArcelorMittal's blast furnaces in France by the end of the
decade.
The news follows ArcelorMittal's agreement last year with the
Spanish government for EUR1 billion investments in decarbonization,
which it said would lead to the world's first full-scale zero
carbon-emissions steel plant near Bilbao.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
February 04, 2022 06:41 ET (11:41 GMT)
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