ArcelorMittal: EU approves E1.3bn in state aid

(CercleFinance.com) - The European Commission has approved German state aid worth E1.
3bn to support the decarbonisation of the steel production activities of ArcelorMittal Bremen and ArcelorMittal Eisenhüttenstadt.

This direct grant will be used to build a direct reduction plant and three new electric arc furnaces, replacing two of the three existing blast furnaces and two of the four existing oxygen furnaces.

The new direct reduction plant will initially run on natural gas, which will gradually be replaced by renewable, low-carbon hydrogen.

Ultimately, the new plant will run exclusively on renewable hydrogen.

The new facilities are scheduled to come on stream in 2026. They are expected to produce 3.8 million tonnes of green crude steel per year.

The project is expected to avoid the emission of more than 70 million tonnes of carbon dioxide (CO2) over its 16-year lifespan.


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