ArcelorMittal announced that it has signed a letter of intent with the Governments of Belgium and Flanders supporting a EUR 1.1 billion project to build a 2.5 million tonne direct reduced iron plant at its site in Gent as well as two new electric furnaces. Once the DRI and electric furnaces are built, there will be a transition period during which production will move gradually from blast furnace A, to the DRI and electric furnaces, after which blast furnace A will be closed as it reaches the end of its life. By 2030, this will result in a reduction of around three million tonnes of CO2 emissions each year.The DRI plant will operate alongside Gent’s blast furnace B, which restarted production in March 2021 following a significant investment of €195 million.Various decarbonisation initiatives, including the commissioning in 2022 of Gent’s Steelanol/Carbalyst and Torero projects will see annual CO2 emissions reduction of 0.9 million tonnes by 2030.The support of both the national and the Flanders governments in this project is crucial given the significant cost associated with the transition to carbon-neutral steelmaking. Approval from the European Commission for the funding support will also be required.Combined, the various initiatives will enable ArcelorMittal Belgium to reduce its CO2 emissions by 3.9 million tonnes per year by 2030 (on a scope 1 and 2 basis, compared with 2018), which is equivalent to the greenhouse gas emissions from 848,172 cars being driven for a year. As a result, ArcelorMittal Belgium will make a significant contribution to ArcelorMittal Europe’s ambition to reduce CO2e emissions intensity by 35% by 2030 and to become carbon neutral by 2050.
ArcelorMittal announced that it has signed a letter of intent with the Governments of Belgium and Flanders supporting a EUR 1.1 billion project to build a 2.5 million tonne direct reduced iron plant at its site in Gent as well as two new electric furnaces. Once the DRI and electric furnaces are built, there will be a transition period during which production will move gradually from blast furnace A, to the DRI and electric furnaces, after which blast furnace A will be closed as it reaches the end of its life. By 2030, this will result in a reduction of around three million tonnes of CO2 emissions each year.The DRI plant will operate alongside Gent’s blast furnace B, which restarted production in March 2021 following a significant investment of €195 million.Various decarbonisation initiatives, including the commissioning in 2022 of Gent’s Steelanol/Carbalyst and Torero projects will see annual CO2 emissions reduction of 0.9 million tonnes by 2030.The support of both the national and the Flanders governments in this project is crucial given the significant cost associated with the transition to carbon-neutral steelmaking. Approval from the European Commission for the funding support will also be required.Combined, the various initiatives will enable ArcelorMittal Belgium to reduce its CO2 emissions by 3.9 million tonnes per year by 2030 (on a scope 1 and 2 basis, compared with 2018), which is equivalent to the greenhouse gas emissions from 848,172 cars being driven for a year. As a result, ArcelorMittal Belgium will make a significant contribution to ArcelorMittal Europe’s ambition to reduce CO2e emissions intensity by 35% by 2030 and to become carbon neutral by 2050.
