ArcelorMittal Decarbonization Plan Received Government Funding

SEATTLE (Scrap Monster): The government of Spain has committed to provide financial support to ArcelorMittal for its decarbonisation plans at its steelmaking sites in Asturias and in Sestao, in the Basque Country.

The agreement to this effect was signed on the occasion of the World Economic Forum in Davos, Switzerland. The ceremony was attended among others by Aditya Mittal, CEO, ArcelorMittal and Reyes Moroto, the Spanish Minister for Industries. The funding is part of the government’s Recovery and Resilience Plan.

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Consequently, ArcelorMittal will receive government funding in support to its project to construct an electric arc furnace and DRI plant in Gijon. The implementation of the project will represent the first step of its decarbonisation journey in Asturias. The project is expected to turn out to be an enabler of new projects associated with the green hydrogen production value chain.

Aditya Mittal, CEO, ArcelorMittal noted that the 2.3 million tonne project in Gijon will enable ArcelorMittal Sestao to be the first full-scale zero carbon-emissions steel plant in the world. The agreement marks the next step in its decarbonisation journey in Spain and will provide funding certainty to the next phase of the project, he said.