ArcelorMittal has announced plans to invest in new electric arc furnace (EAF) production capacity at its Belval site, located in Luxembourg.

According to the steelmaker, the investment is part of a series of projects that were the subject of a memorandum of understanding (MoU) signed last September between its Luxembourg business unit and that nation’s Ministry of the Economy.

ArcelorMittal says its investment will offer ‘improved energy efficiency and an increase in steel production capacity in Luxembourg of almost 15%, reaching 2.5Mt/yr of steel.’

The new equipment will replace an existing EAF that has been in operation since 1997, with installation planned to start this year, and operation due to begin in 2025.

“This is a major step forward in a project that has progressed quickly and demonstrates the Luxembourg government’s support for our decarbonization strategy.”

Geert van Poelvoorde, CEO of ArcelorMittal Europe

“This project is the first concrete expression of the MoU that we signed last September [to] develop initiatives aimed at enabling ArcelorMittal’s Luxembourg sites to embark on the road to carbon-neutral steel production,” said Geert van Poelvoorde, CEO of ArcelorMittal Europe. “This is a major step forward in a project that has progressed quickly and demonstrates the Luxembourg government’s support for our decarbonization strategy.”

“The realization of this project is tangible proof that we are capable, in Luxembourg, of sustaining and developing our industry through a project that fits perfectly into the roadmap set by Europe to combat climate change.”

Franz Fayot, Luxembourg’s minister of economy

Franz Fayot, Luxembourg’s minister of economy, commented: “The realization of this project is tangible proof that we are capable, in Luxembourg, of sustaining and developing our industry through a project that fits perfectly into the roadmap set by Europe to combat climate change.”

Source: Recycling Today