The steel group ArcelorMittal ready to leave Italy, where it manages the former Ilva, invests in France for its European future. The French Economy Minister, Bruno Le Maire, announced that ArcelorMittal intends to invest 1.8 billion euros in the decarbonization process of the Dunkirk steelworks, in order to reduce CO2 emissions from the industrial sector in France by 6%. The French government will guarantee incentives, authorized by the European Union, which could reach one billion euros. The investment schedule was not specified. Specifically, the investment will be used to build two electric furnaces and a direct iron reduction unit, the first phase of carbon-free steel production. These plants, which will run on electricity and gas and, eventually, hydrogen, will replace coal furnaces, reducing the site’s CO2 emissions by 4.4 million tons per year. Le Maire will visit the plant on Monday, accompanied by Christophe Bèchu, French Minister for Ecological Transition, to sign the state aid contract, drawn up under the auspices of the French Agency for Environment and Energy Management (Ademe).
A letter of intent will also be presented between the company and Edf to ensure a stable and competitive electricity supply for the site, which has been identified as one of the 50 industrial sites with the highest greenhouse gas emissions in France. Also tomorrow, Le Maire will visit the Gravelines nuclear power station; This is his first trip since assuming the energy mandate following the governmental reshuffle.
Source: IL Tempo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
