Since 2021, engineers have been studying the prodcution of green steel at ArcelorMittal's European plants. Instead of using coal, steel would be produced in furnaces powered by hydrogen. Such an investment in its plant in Ghent would reduce Belgium's industrial CO2 emissions by several percent.
ArcelorMittal's management was supposed to place the order by the end of this year. But the steel giant is not allocating the billions of euros needed for the foreseeable future, it announced on Tuesday. This is despite an investment of 600 million euros by Flanders to convince the company to go through with the plans.
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