ArcelorMittal Announced New Strategic Joint Venture Agreement

SEATTLE (Scrap Monster): Leading steelmaker ArcelorMittal announced that it has entered into a strategic joint venture agreement with UK-based SigmaRoc group of companies to create a new company.

The newly formed company will be located close to Dunkirk harbour and will produce 900,000 tonnes of high-quality lime, whose main consumer would be ArcelorMittal steelworks. The company will reuse heat recovered from the ArcelorMittal plant and will replace natural gas by biofuels in its production process, thus leading to significant reduction in carbon dioxide emissions. The carbon reduction initiatives are aimed at achieving production of net-zero lime.

As per the terms of the agreement, SigmaRoc and ArcelorMittal will each take 47.5% ownership stake in the joint venture. In the first phase, the new company will construct three new lime kilns in Dunkirk. Initial planning on permitting and kiln specification is already under process, with final permitting expected by end-2023. The kilns are scheduled to be commissioned in 2025.

Matthieu Jehl, CEO, ArcelorMittal France noted that the creation of the joint venture is a great step forward for the company in securing supply of high-quality lime. Max Vermorken, CEO, SigmaRoc commented that the company is delighted to have entered into this new partnership with ArcelorMittal.

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