ArcelorMittal bets big on decarbonisation

The Ghent project involves the reduction of CO2 emissions by 3.9 mtpa by 2030, by building a 2.5 million ton DRI plant and two electric furnaces, which will operate alongside its state-of-the-art blast furnace that can take waste wood and plastics as a substitute for fossil carbon.

ArcelorMittal is betting big on decarbonisation of the steel put in investments across several innovative projects spread across continents.

The Lakshmi Mittal-owned global steelmaker has recently signed a letter of intent with the governments of Belgium and the regional government of Flanders, for a €1.1 billion investment in decarbonization technologies at its flagship plant at Ghent located there.

“To tackle the climate crisis, we need ambitious action. European countries are leading the way, with clear targets to reduce greenhouse gas emissions by 55 percent by 2030 and climate neutrality by 2050. It is good to see that sectors with a large footprint are also joining the race by investing in innovation that reduces emissions and, in the long term, achieves carbon neutrality,” Alexander De Croo, Prime Minister of Belgium, said.

“This ambitious project shows that industry is a crucial partner to achieve a climate-neutral society by 2050. It will be one of the largest climate investments in Belgium that will anchor ArcelorMittal in the Ghent region, that guarantee employment and that will provide low carbon and ultimately carbon-neutral steel. Green steel is needed in the switch to 100 percent renewable energy. What is good for the climate is good for the economy and for everyone,” Tinne Van der Straeten, Belgian Minister of Energy, said.

Reducing emission with smart DRI technology