Global steel giant ArcelorMittal announced that following receipt of customary regulatory approvals it has completed the acquisition of an 80% shareholding in Voestalpine’s Hot Briquetted Iron plant located near Corpus Christi in Texas in US. The acquisition, announced in April this year, values the Corpus Christi operations at USD 1 billion. The state-of-the-art plant is one of the largest of its kind in the world. It has an annual capacity of 2 million tonnes of HBI, which is a premium, compacted form of Direct Reduced Iron developed to overcome issues associated with shipping and handling DRI.ArcelorMittal intends to lead the Decarbonisation of the global steel industry. The transaction enhances ArcelorMittal’s ability to produce the high quality input materials required for low-carbon emissions steelmaking, and reinforces the Company’s position as a world leader in DRI production.
Global steel giant ArcelorMittal announced that following receipt of customary regulatory approvals it has completed the acquisition of an 80% shareholding in Voestalpine’s Hot Briquetted Iron plant located near Corpus Christi in Texas in US. The acquisition, announced in April this year, values the Corpus Christi operations at USD 1 billion. The state-of-the-art plant is one of the largest of its kind in the world. It has an annual capacity of 2 million tonnes of HBI, which is a premium, compacted form of Direct Reduced Iron developed to overcome issues associated with shipping and handling DRI.ArcelorMittal intends to lead the Decarbonisation of the global steel industry. The transaction enhances ArcelorMittal’s ability to produce the high quality input materials required for low-carbon emissions steelmaking, and reinforces the Company’s position as a world leader in DRI production.
