ArcelorMittal announces intention to build an EAF at AM/NS Calvert
13 August 2020 - 6:36AM
ArcelorMittal announces intention to build an EAF at
AM/NS Calvert
Today, ArcelorMittal announced its intention to build an
Electric Arc Furnace (EAF) steel making facility at AM/NS Calvert.
Once completed the planned facility will be capable of producing
1.5Mt of steel slabs for the Hot Strip Mill and producing a broad
spectrum of steel grades required for Calvert’s end user markets.
Construction is expected to take 24 months and the new facility is
anticipated to create 300 additional jobs in the community.
Commenting, Mr. Lakshmi Mittal, Chairman and CEO of
ArcelorMittal said:“An electric arc furnace at Calvert
makes strategic sense as it allows our asset to be more reactive to
the local market as well as being in line with the USMCA.
Furthermore, it aligns with our ambition of producing smarter
steels for a better world.”
Commenting, Brad Davey, CEO, ArcelorMittal North America
said:“The addition of an EAF at AM/NS Calvert presents a
transformational opportunity for what is already widely considered
to be the world’s most advanced steel finishing facility. This is a
logical next step in optimizing AM/NS Calvert’s supply chain.
Enhancing our already highly competitive lead times with short
lead-time flexibility, combined with our existing world class
facilities will give AM/NS Calvert a decisive competitive
advantage. In addition, the USMCA trade agreement is a “game
changer” for former NAFTA and as a result, future steel supply
chains for the automotive markets will be required to use steel
that was created within North America. A new EAF at AM/NS Calvert
will further secure ArcelorMittal’s leadership in the North
American Automotive market.”
AM/NS Calvert is the world’s most advanced steel finishing
facility and further demonstrates the highly successful partnership
between ArcelorMittal and Nippon Steel Corporation. AM/NS Calvert
was originally built by Thyssenkrupp, with a total investment cost
~$4B USD and was acquired by ArcelorMittal and NSC as a 50:50 JV in
2014. The J/V has already invested more than $200M USD in strategic
projects invested in Calvert since its acquisition. These
capabilities, geographic location in combination with the new EAF
will position the facility well for meeting automotive and energy
market demand well into the future.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company,
with a presence in 60 countries and primary steelmaking facilities
in 18 countries. In 2019, ArcelorMittal had revenues of $70.6
billion and crude steel production of 89.8 million metric tonnes,
while iron ore production reached 57.1 million metric tonnes. Our
goal is to help build a better world with smarter steels. Steels
made using innovative processes which use less energy, emit
significantly less carbon and reduce costs. Steels that are
cleaner, stronger and reusable. Steels for electric vehicles and
renewable energy infrastructure that will support societies as they
transform through this century. With steel at our core, our
inventive people and an entrepreneurial culture at heart, we will
support the world in making that change. This is what we believe it
takes to be the steel company of the future. ArcelorMittal is
listed on the stock exchanges of New York (MT), Amsterdam (MT),
Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of
Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit:
http://corporate.arcelormittal.com/
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