ArcelorMittal Halts Green Steel Investment Plans in Ghent, Focus Shifts to Dunkirk

ArcelorMittal has excluded its planned investment for green steel in Ghent from its strategic project list, prioritizing Dunkirk instead, where a new electric furnace will produce 2 million tons of steel annually by 2030. The decision reflects challenging economic conditions in Europe, as high gas prices and energy costs hinder the feasibility of such investments.

Previously, the Ghent facility was slated for a transition to Direct Reduced Iron (DRI) technology and electric ovens to reduce CO₂ emissions significantly. This shift was critical for both the local steel industry and Belgium's climate targets.

However, with the absence of Ghent in the current plans, the factory, one of Belgium's largest industrial emitters, faces uncertainty regarding future investments and operational sustainability. Possible impacts include a delay in achieving climate objectives and the potential economic effects on the region's workforce of approximately 5,000 employees.