Luxembourg-based steelmaker ArcelorMittal has announced that its subsidiary ArcelorMittal Belgium has begun its carbon capture and utilization (CCU) project at its Ghent steel plant.
The €200 million worth Steelanol project will utilize cutting-edge carbon recycling technology and is a first of its kind for the European steel industry.
Once production reaches full capacity, the Steelanol plant will reduce annual carbon emissions from the Ghent plant by 125,000 metric tons by converting waste and by-products into valuable new products.
In addition, the company will soon inaugurate its Torero project, which will reduce annual carbon emissions in Ghent by 112,500 metric tons, and which is set to come on stream in the first quarter of 2023.
Meanwhile, the company has been granted a €75 million loan from the European Investment Bank for the construction of the given projects, as SteelOrbis previously reported.