ArcelorMittal signs letter of intent with the governments of Belgium and Flanders, supporting €1.1 billion investment in decarbonisation technologies at its flagship Gent plant
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Source: GlobeNewswire
ArcelorMittal Belgium will reduce CO2 emissions by 3.9 million tonnes per year by 2030, by building a 2.5 million-tonne direct reduced iron (DRI) plant and two electric furnaces at its Gent site, to operate alongside its state-of-the-art blast furnace that is ready to take waste wood and plastics as a substitute for fossil carbon. 28 September 2021, 10:15 CET ArcelorMittal announces that it has signed a letter of intent with the Governments of Belgium and Flanders, supporting a €1.1 billion project to build a 2.5 million-tonne direct reduced iron (DRI) plant at its site in Gent, as well as two new electric furnaces. A DRI plant uses natural gas, and potentially hydrogen, instead of coal to reduce iron ore, resulting in a large reduction in CO2 emissions compared with blast furnace ironmaking. The two electric furnaces will melt the DRI and scrap steel, which will then be transformed in the steel shop into steel slabs and then further processed into finished products. Once the DRI
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- ArcelorMittal S.A. (NYSE: MT) had its "hold" rating re-affirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $31.00 price target on the stock, down previously from $34.00.MarketBeat
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- ArcelorMittal's Irina Gorbounova Joins CHAR Tech Board of Directors [Financial Post (Toronto, Ontario, Canada)]Financial Post
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- ArcelorMittal S.A.: ArcelorMittal publishes interim update on its company-wide safety auditGlobeNewswire
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