Buy
Sell
Share Name Share Symbol Market Type
ArcelorMittal EU:MT Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.14 0.49% 28.46 28.20 28.485 28.74 28.075 28.55 3,748,008 16:40:00

ArcelorMittal, Luxembourg Agree on Decarbonization

28/09/2022 8:05am

Dow Jones News


ArcelorMittal (EU:MT)
Historical Stock Chart


From Aug 2022 to Feb 2023

Click Here for more ArcelorMittal Charts.

By Pierre Bertrand

 

Luxembourg's economy ministry said late Tuesday that it signed a memorandum of understanding with ArcelorMittal to support the steelmaker's investments in decarbonization.

The first tranche of decarbonization projects has an estimated budget of 100 million euros ($96 million) and includes the installation of a new electric arc furnace at the company's Belval steel plant, the ministry said.

The Luxembourg government didn't detail its financial contribution to the projects, but said it would support the investments through available funding mechanisms.

The new furnace will improve energy efficiency and boost ArcelorMittal's annual steel production capacity in Luxembourg by almost 15% to 2.5 million metric tons, covering the country's needs for finished rolled products, the ministry said.

A further EUR30 million will be dedicated over the next five years as the Luxembourg-based company works to make its Bissen site carbon-neutral, the statement said.

 

Write to Pierre Bertrand at pierre.bertrand@wsj.com

 

(END) Dow Jones Newswires

September 28, 2022 02:50 ET (06:50 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

1 Year ArcelorMittal Chart

1 Year ArcelorMittal Chart

1 Month ArcelorMittal Chart

1 Month ArcelorMittal Chart
Your Recent History
EU
MT
ArcelorMit..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20230202 21:35:41