ArcelorMittal Commits Huge Investment to Decarbonize Dunkirk Operations

SEATTLE (Scrap Monster): Leading steelmaker ArcelorMittal has reiterated its commitment to decarbonize its France operations. The company is reportedly collaborating with the country’s government to make huge investments aimed at decarbonizing Dunkirk steel operations.

ArcelorMittal was obliged to postpone its previously announced European decarbonization projects due to the crisis in the European steel industry. To protect the region's steel industry, the business pointed out that the European Commission's Steel and Metal Action Plan, which was unveiled in March of this year, gives hope that it will soon put carbon border adjustment mechanisms (CBAM) and other defense measures into place.

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Soon after the summer, the corporation intends to relaunch its decarbonization plan. It will then invest about €1.2 billion in Dunkirk to build its first electric arc furnace (EAF).

The business recently revealed plans to invest €53 million in Fos and €254 million in Dunkirk. Additionally, the €500 million new electric steels production unit is currently being built in Mardyck and is anticipated to be finished by the end of 2025.

The aforementioned investments show that the company intends to continue operating a successful and long-lasting steel manufacturing operation in France.