ArcelorMittal Declared Massive Investment Project at Gent Steel Plant

SEATTLE (Scrap Monster): ArcelorMittal- the Luxembourg-based multinational steelmaker announced investment in a major improvement project at its Gent steelmaking facility in Belgium. The project, which involves significant cost associated to it, will also require funding support approval from the European Commission (EC).

According to company press release, it has signed a letter of intent with the governments of Belgium and Flanders, in support of a 1.1 billion euro investment in decarbonisation technologies at the plant. The project comprises construction of a 2.5 million-tonne direct reduced iron (DRI) plant and two electric arc furnaces (EAFs), in addition to the existing state-of-the-art blast furnace.

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The new DRI plant will potentially use natural gas or hydrogen, thereby resulting in huge reduction in carbon dioxide emissions. Also, the two EAFs will melt DRI and scrap steel to make steel slabs. Upon completion, the blast furnace A will gradually transition to the DRI and electric arc furnaces, after which the blast furnace will be closed. The company expects that the above said transition is likely to cut around 3 million tonnes of carbon emissions by 2030.