ArcelorMittal told that it plans to restart blast furnace A at its Gijón plant in northern Spain next month. The uncertain economic scenario and poor market conditions have caused the equipment to be idle since the end of September.
The decision was welcomed by trade unions deemed necessary ahead of a meeting at the World Economic Forum, and between Spanish Prime Minister Pedro Sanchez and ArcelorMittal president Lakshmi Mittal. The acceleration of ArcelorMittal investments in Spain with the installation of a hybrid electric arc furnace in Gijón was one of the main points of the negotiations.
The project, which is a priority for the steelmaker's targets to reduce CO2 emissions in Europe, awaits Spain's €500 million ($530.93 million) co-financing contribution as part of the national government's recovery and resilience plan. ArcelorMittal predicts that the company could begin production of its anti-corrosion metallic coated product, Magnelis, in the coming weeks.
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