Marcegaglia plans to invest €750 million to restart plant in FOS-sur-Mer

The Marcegaglia Group is considering investing €750 million to modernize and restart its steel plant in Fos-sur-Mer (France), which was acquired in June last year. This is stated in the company’s press release.

During his visit to the plant, French Minister of Industry and Energy Marc Ferracci personally familiarized himself with the company’s plans to improve competitiveness and environmental friendliness.

The company’s president, Antonio Marcegaglia, emphasized the strategic importance of this facility for the group’s development and noted that the French authorities support the implementation of a large-scale investment project. He also emphasized the importance of the plant due to its favorable location and access to raw materials.

The planned restart envisages the creation of 380 new jobs and the preservation of 320 existing ones. In addition to the economic impact, Marcegaglia aims to make the plant one of the first energy-supplied steel mills in Europe, which will contribute to a significant reduction in CO2 emissions.

As GMK Center reported earlier, the Commercial Chamber of the Strasbourg Court of Justice declared Marcegaglia the winner of the tender for the acquisition of the Ascometal steel plant in FOS-sur-Mer, France, which was undergoing rehabilitation, on 31 May 2024.

The modernization project envisages increasing the capacity of the electric arc furnace to 1-1.2 million tons of steel per year, building a new continuous casting machine (CCM) and a modern hot strip mill. The total production capacity of the enterprise will be 1.6-2 million tons of steel per year.