arcelormittal-ny registered (MT) Key Developments
ArcelorMittal to Invest $1.2 Billion in Ukraine
Jul 17 15
ArcelorMittal which owns ArcelorMittal Kryvyi Rih (Dnipropetrovsk region), plans to invest $1.2 billion in Ukraine in the coming years.
ArcelorMittal Not Planning to Divest Assets
Jul 14 15
ArcelorMittal (ENXTAM:MT) may not sell assets. PJSC ArcelorMittal Kryviy Rih in a response to an article published by KazTAG by saying that the company no current plans to sell its assets in Kazakhstan, Ukraine or South Africa. Interfax quoted ArcelorMittal sa saying, “ArcelorMittal confirms that it has no current plans to sell it's assets in Kazakhstan, Ukraine or South Africa.” The statement added, “Operating conditions in these regions are very challenging, due to a combination of low economic activity and a falling demand for steel that is further exacerbated by high levels of imports, from China and elsewhere. The devaluation of the ruble is also affecting competitiveness in Kazakhstan. The company is therefore focused on implementing measures to improve the operational performance of the plants.” ArcelorMittal Kryvyi Rih’s Chief Executive Offiver, Paramjit Kahlon said at a trade union conference that ArcelorMittal has invested $1.2 billion ArcelorMittal Kryvyi Rih and the company has no plans to sell the enterprise due to the difficult situation on the metal product markets.
ArcelorMittal, LanzaTech and Primetals Technologies Announce Partnership to Construct Breakthrough EUR 87 Million Biofuel Production Facility
Jul 13 15
ArcelorMittal, LanzaTech, and Primetals Technologies announced they have entered into a letter of intent to construct Europe's first-ever commercial scale production facility to create bioethanol from waste gases produced during the steelmaking process. The resulting bioethanol can cut greenhouse gas emissions by over 80% compared with conventional fossil fuels. It will predominantly be used in gasoline blending, but it can also be further processed into other products such as drop in jet fuel. The 47,000 ton ethanol/annum project, sufficient to fuel half a million cars with ethanol blended gasoline, will demonstrate the added value of recycling waste streams, not only by reducing emissions at source, hence reducing ArcelorMittal's direct carbon footprint, but by keeping fossil fuels in the ground through the production of commodity chemicals and fuels that would otherwise be made from oil. Approximately 50% of the carbon used in the chemistry of steelmaking leaves the process as carbon monoxide. This waste gas stream is combusted as carbon dioxide and either flared or used to heat and power the steel mill. In either case, the resulting CO2 is emitted. As the production of bioethanol is a new activity, ArcelorMittal intends to set up a joint venture company for the roll out of this technology with dedicated partners. Financing will be sought from a number of different sources. A total of EUR 10.2 million has been secured under the EU's 2020 Horizon programme for research and development and talks are currently taking place with potential equity and debt partners. Primetals Technologies will be responsible for part of the engineering, automation, key equipment and commissioning.
ArcelorMittal Reportedly Plans To Sell Assets In Kazakhstan, Ukraine And South Africa
Jul 13 15
ArcelorMittal (ENXTAM:MT) is planning to sell assets. KazTAG reported sources as saying that Chairman and Chief Executive Officer of ArcelorMittal may sell assets in Kazakhstan, Ukraine and South Africa, a source in London told KazTAG.
ArcelorMittal Seeks Partner
Jul 13 15
ArcelorMittal (ENXTAM:MT) said it would invest in a €87-million flagship pilot project to make bioethanol from waste gases produced during the steelmaking process. ArcelorMittal plans to set up a dedicated company and seek strategic financial partners for the roll out of this technology. A total of €10.2 million has already been secured under the EU’s 2020 Horizon programme for research and development and talks are currently taking place with potential equity and debt partners. ArcelorMittal is partnering with Lanzatech NZ Ltd. and Primetals Technologies Ltd to build the flagship pilot project at its steel plant in Ghent, Belgium.