ArcelorMittal will delay final investment decisions (FIDs) on decarbonisation projects, including plans to build up green hydrogen-ready direct reduced iron (DRI) plants.
The world’s second-largest steelmaker previously unveiled its “Innovative DRI” pathway as a route to transitioning its blast furnace plants to DRI using green hydrogen and/or electric arc furnaces.
Having originally planned to commission hydrogen DRI sites in France and Spain by next year, ArcelorMittal also scheduled DRI installations at plants in Belgium and Germany for start-up in 2026. It had already secured €3.5bn in subsidies to support the plans.
However, the company, in a statement said the plans were “premised on a favourable combination of policy, technology and market developments” that would allow it to decarbonise while offsetting the large CAPEX and OPEX costs.
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