PARIS (Reuters) – ArcelorMittal and the French state will invest a total of 1.8 billion euros to reduce CO2 emissions from the steel group’s site in Grande-Synthe (North), a spokeswoman for the company told Reuters. Ministry of Economy and Finance.

The Minister of the Economy Bruno Le Maire and his counterpart for Energy Transition Christophe Béchu are due to go there on Monday.

The ArcelorMittal factory is among the 50 French industrial sites with the highest greenhouse gas emissions and has been identified as a potential site for decarbonization solutions, recalled the Ministry of Energy Transition in a press release.

The 1.8 billion euros – divided between an investment by ArcelorMittal and a state aid contract – will finance an iron ore reduction unit and electric furnaces. This project should ultimately make it possible to reduce emissions by 4.4 million tonnes of CO2 per year, or 5.7% of national industrial emissions, added the ministry.

In a message published on the professional social network LinkedIn, Emmanuel Macron welcomed “a historic agreement” which will be “signed with ArcelorMittal to electrify the Dunkirk blast furnaces thanks to France 2030”.

“I committed to it in November 2022 at the Élysée. Ultimately, it will be more than one percent of our CO2 emissions eliminated,” writes the French head of state, adding “Ecology at the French is good for the economy and for employment. We are accelerating!”

(Report by Gilles Guillaume and Claude Chendjou)

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