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ArcelorMittal can have EUR460 million in Spanish aid to decarbonize steel production

( February 17, 2023, 14:45 GMT | Official Statement) -- MLex Summary: Spain has won European Commission approval for its plan to grant 460 million euros to ArcelorMittal to support the construction of a renewable hydrogen-based direct reduced iron plant. The project is aimed at decarbonizing the steel giant's production in the city of Gijón, where it operates two blast furnaces, and is expected to prevent the release of more than 70 million tonnes of carbon dioxide. The new facility is scheduled to start operations by the end of 2025.Statement follows. ...

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