EIB grants loan to ArcelorMittal for research and development program 2021-23

Tuesday, 28 September 2021 11:04:19 (GMT+3)   |   Istanbul

The European Investment Bank (EIB) has announced that it granted €280 million loan to Luxembourg-based ArcelorMittal to help the company’s European research and development program between 2021 and 2023.

The loan is backed by a guarantee from the European Fund for Strategic Investments, the main pillar of the European Commission’s Investment Plan for Europe.

This funding initiative aims to support ArcelorMittal’s research activities and the associated capital expenditure in the field of environmental, climate and energy projects. It will help the company to reach its ambitious climate action goals and thus to reduce the environmental footprint of its manufacturing facilities, steel products and technological solutions.

ArcelorMittal aims to reduce carbon emissions intensity by 35 percent by 2030, and achieve net-zero emission by 2050.

The research and development activities will be carried out primarily in ArcelorMittal’s existing R&D facilities in France, Belgium, Luxembourg and Spain.

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