December 02, 2008

ArcelorMittal ready to invest EUR 300 million in CO2 capture in France

Thomson Financial reported that ArcelorMittal is ready to invest EUR 300 million in a pilot CO2 capture project in France if it has the support of the French government.

The report quoted Mr LN Mittal CEO of ArcelorMittal as saying that other governments have said they are interested in the CO2 project but that his strong preference is for France.

ArcelorMittal is facing hostility in France after it confirmed plans to close parts of a steel facility at Gandrange in eastern France, hitting 575 jobs. In an interview with Les Echos, Mr Mittal reiterated that all the workers affected by the plan will be offered posts elsewhere within the group and observed that the group is investing EUR 330 million renewing furnaces at the Florange plant a few miles a away.