Global steel giant ArcelorMittal has announced that it has postponed the commissioning of its new electric arc furnace at AM/NS Calvert, a joint venture between Nippon Steel Corporation and ArcelorMittal located in Alabama in the US.
The 1.5 million mt electric arc furnace was planned to be commissioned during the second half of 2023, while estimated completion is now extended to the second half of next year largely due to enlarged scope and inflation.
The joint venture parties are expected to invest approximately $1 billion in the new furnace, while an option to add another 1.5 million mt electric arc furnace with lower capital expenditure intensity is being studied.