Luxembourg-based global steel giant ArcelorMittal has announced that it has signed an agreement with the Spanish government for financial support for the decarbonization of the company’s Asturias and Sestao plants in Spain.
The funding, which is part of the government’s Recovery and Resilience Plan, will support the construction of an electric arc furnace and direct reduction plant in Gijón, which are crucial to the company’s carbon emissions reduction goals in Europe.
“We were proud to announce last year our plan to build a 2.3 million mt green hydrogen direct reduced iron unit, complemented by a 1.1 million mt hybrid electric arc furnace in Gijón - which in turn will enable ArcelorMittal Sestao to be the world’s first full-scale zero carbon-emissions steel plant. The agreement we have signed with the government of Spain this week provides some of the funding certainty we need to move to the next phase of this project,” Aditya Mittal, CEO of ArcelorMittal, said.