ArcelorMittal Granted €280 Million EIB Loan for Decarbonization R&D
09/28/2021 - The European Investment Bank (EIB) funding, backed by the Investment Plan for Europe, will support ArcelorMittal’s European research and development activities through 2023.
The steelmaker on Monday announced the loan, which will cover capital expenditures at the company’s R&D facilities in France, Belgium, Luxembourg and Spain.
ArcelorMittal Europe has set a goal to reduce CO2 emissions intensity by 35% by 2030.
“This funding will help Global R&D to further enable ArcelorMittal’s ambitions to reduce its environmental footprint in terms of its operations and its products,” said Greg Ludkovsky, vice president of ArcelorMittal and head of research and development.
“We will be able to expand our work to develop environmentally sustainable, high-added value, cost-effective, and disruptive products and manufacturing processes.”
Ambroise Fayolle, EIB vice president, added, “The signing of this agreement between the European public bank and ArcelorMittal will support a major European player in the steel industry with a deep focus on higher value-added steel products. These investments will play a key role in ArcelorMittal’s carbon footprint reduction strategy and therefore contribute to the European green deal, aligned with the terms of the 2015 Paris Agreement on climate change.”
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