(CercleFinance.com) – As part of its decarbonization process, ArcelorMittal Luxembourg announces its intention to invest in a new electric arc furnace at its Belval site, for an investment of 67 million euros.
This investment is part of a series of projects which were the subject of a memorandum of understanding signed last September between the steelmaker and the State of Luxembourg which, for this project in particular, will make available approximately 15 million euros in subsidies.
Belval’s new electric arc furnace will offer better energy efficiency and an increase in steel production capacity in Luxembourg of almost 15%. Its installation will begin this year and its commissioning is scheduled for 2025.