ArcelorMittal Delays €1 Billion Investment in Green Steel in Ghent

Since 2021, steel giant ArcelorMittal has been exploring plans to replace its existing blast furnaces in Europe with 'hydrogen-ready' DRI-EAF facilities, which emit significantly less CO₂. However, the company has recently announced that it is postponing its decision on investing more than 1 billion euros in green steel production at its Ghent plant. ArcelorMittal cites unfavorable developments in policy, the energy market, and technological progress as the reasons for this decision. Read the full announcement here.