ArcelorMittal signs €1 bn MoU with Spain for decarbonisation tech

ArcelorMittal has signed a memorandum of understanding (MoU) with the Government of Spain, which would witness a €1 billion investment in decarbonisation technologies at Asturias’ plant ArcelorMittal in Gijón. The investments would decrease carbon emissions at ArcelorMittal’s Spanish operations by 4.8 million tonne (mt), representing nearly 50% of emissions, in the next five years.The steel firm also declared that its Sestao plant in Spain would become the first complete zero carbon-emissions steel plant worldwide. The €1 billion investment is for the construction of a green hydrogen direct reduced iron (DRI) plant in Gijón and also for a new hybrid-electric arc furnace (EAF) The Sestao plant, which produces a series of flat steel items for the automotive and construction areas and other industries, would manufacture 1.6 mt of zero carbon-emission steel by 2025. The firm would change the metallic input by expanding the proportion of circular, recycled trash and utilising green hydrogen-produced DRI from Gijón. It would also power every steelmaking asset (rolling mill, finishing lines, EAFs) with renewable electricity and would launch different significant emerging technologies that would replace the remaining fossil fuel use in the steelmaking procedure with neutral energy inputs like green hydrogen and sustainable biomass. Image Source Also read: Coal plant decommissioning can help save Rs 37,750 cr: CEEW report