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French government backs €1.7bn decarbonization plan for ArcelorMittal

Europe / Ferrous metallurgy

The European Union's largest steelmaker will accelerate decarbonisation in France with a €1.7 billion investment program backed by the French government.

French government backs €1.7bn decarbonization plan for ArcelorMittal

French Prime Minister Jean Castex and Minister of Industry Agnès Pannier-Runacher today visited the ArcelorMittal plant in Dunkirk, France. The guests were welcomed by Eric Nedziela, Chairman of ArcelorMittal France and Vice President of ArcelorMittal Europe for Combating Climate Change.

During the visit, the Prime Minister announced the French government's support for ArcelorMittal's decarbonisation program in France, which includes a €1.7 billion investment in its facilities in Fos-sur-Mer and Dunkirk.

According to the press office of ArcelorMittal, these investments will ensure a fundamental transformation of the steel industry and the overall reduction of ArcelorMittal's CO2 emissions in France by almost 40%, or 7.8 million tons per year, by 2030.

The transformation of the steel industry will create positive and sustainable employment and industrial activity in France, especially in the areas of Dunkirk and Fos-sur-Mer, a leading European steel company said.

“ArcelorMittal is honored that the French state is supporting our projects… ArcelorMittal management and its 15,500 employees in France are mobilized to succeed in this new industrial revolution and we look forward to welcoming new talent to take part in this extraordinary adventure,” said Eric Nidzela.

ArcelorMittal's operations in France have already begun work on the second phase of their decarbonization programme, which will use the technologies implemented in the first phase along with carbon capture and storage or utilization (CCU/S) technologies, provided that the technology will be sufficiently developed, and regulation will ensure this economic feasibility. This second step will enable ArcelorMittal's French operations to achieve carbon neutrality by 2050.

The partnership between ArcelorMittal and the French government on projects is subject to EU approval, which is expected in the second quarter of this year, as well as the availability of an economically viable energy infrastructure and supply.

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