9,389.62 TRY BIST 100 BIST 100
4.79 CNY CNY CNY
34.46 USD USD USD
36.34 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
42.67 TRY Interest Interest
71.21 USD Fossil Oil Fossil Oil
30.61 USD Silver Silver
4.07 USD Copper Copper
98.18 USD Iron Ore Iron Ore
375.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,866.01 TRY Gold (gr) Gold (gr)

EU to contribute to ArcelorMittal's decarbonisation target

The EU will contribute to ArcelorMittal's decarbonisation target with EUR 280 million in support.

EU to contribute to ArcelorMittal's decarbonisation target

The European Commission has approved a €280 million subsidy for the partial decarbonisation of two blast furnaces at ArcelorMittal's Belgian unit. The funds will be used to build a direct reduction iron (DRI) plant by 2026.

The capacity of the plant is expected to be 2.3 million tonnes. The plant will operate using DRI-EAF technology, which combines the operation of a direct iron reduction unit and an electric arc furnace. The EAF is also planned to be commissioned in 2026.

These units will need to replace one of the blast furnaces. Subsequently, the second one is also expected to be replaced and the plant is expected to completely switch to the use of hydrogen only or a mixture of hydrogen and natural gas.

ArcelorMittal's Belgian unit is actively involved in the decarbonisation of production. Thus, in December 2022, the Steelanol plant, which converts carbon dioxide into ethanol, was put into operation at ArcelorMittal Ghent. The declared capacity of the plant reaches 80 million litres per year.

In 2023, the company plans to commission the Torero plant at a cost of EUR 35 million. This plant will produce biomass from wood waste that can be used in blast furnaces instead of coke. In 2025, a second such unit may appear at the plant.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Market dynamics push UAE scrap prices higher

Monday, November 18, 2024

Egypt's steel industry shows diverse pricing trends

Monday, November 18, 2024

Tata Nederland plans to import hydrogen and export CO2 from Norway

Monday, November 18, 2024

OSB investment demand surges

Monday, November 18, 2024

Türkiye-China cooperation deepens

Monday, November 18, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now