The funds will be used to finance two electric arc furnaces and a direct recovery plant
ArcelorMittal Steel Corporation and the French authorities have agreed to invest €1.8 billion to reduce greenhouse gas emissions at the company’s steel plant in Dunkirk. This was reported by the country’s Ministry of Finance, Bloomberg reports.
The funds will be used to finance two electric arc furnaces and a direct reduction iron plant at this production site, which will reduce CO2 emissions in the country’s industrial sector by 6%.
Last summer, the European Commission approved a €850 million subsidy package from the French government, which is part of President Emmanuel Macron’s strategy to reduce emissions at 50 of France’s most polluting facilities.
According to Finance Minister Bruno Le Maire, ArcelorMittal will sign a letter of intent with Electricite de France for a long-term contract for the supply of nuclear energy. The official will visit EDF’s nuclear power plant in Gravelines and a steel plant in Dunkirk to promote the investment. Electricite de France plans to build two additional reactors at the Gravelines site.
As GMK Center reported earlier, ArcelorMittal commissioned the €35 million ($38 million) Torero biomass processing plant at its steel plant in Ghent, Belgium, late last year. The project will reduce annual carbon emissions by 112.5 thousand tons. The plant will process 88 thousand tons of wood waste into 37.5 thousand tons of biochar per year.