ArcelorMittal: major investments planned in Germany

(CercleFinance.com) - ArcelorMittal announced on Monday that it would invest 1 to 1.
5 billion euros in its German sites to accelerate their conversion to less polluting technologies.

In Bremen and in Eisenhüttenstadt, near the Polish border, the steelmaker plans to conduct a large-scale industrial project to produce steel from the reduction of iron ore and a voltaic arc furnace.

Using green hydrogen, some 3.5 million tonnes of steel could be produced in Bremen and Eisenhuttenstadt by 2030, with a "significant" reduction in CO2 emissions from both units.

For the record, ArcelorMittal has set itself the target of reducing its CO2 emissions in Europe by 30% by 2030, before making its steel production net zero by 2050.

However, the steelmaker points out that its technological conversion comes at a price, as the production costs of its new manufacturing methods are 60% higher than the costs of current production methods.



Copyright (c) 2021 CercleFinance.com. All rights reserved.