ArcelorMittal Belgium announced the postponement of its planned EUR 2 billion low-carbon transformation project at its Ghent plant. The company stated that while carbon reduction remains a long-term goal, the massive investment is no longer economically viable given the current high energy costs and low demand.

The project, originally announced in 2021, aimed to replace traditional blast furnaces with electric arc furnaces and direct reduction iron (DRI) equipment. However, due to high electricity prices in Belgium, the group has shifted its focus to its Dunkirk plant in France. 


ArcelorMittal pointed out that market acceptance of green steel is limited, corporate customers are still unwilling to pay a premium for low-carbon products, and the lack of clear mandatory regulations on carbon emissions in the EU has led to sluggish demand.

The company emphasized that public subsidies must be linked to actual progress, and the postponed project will not utilize any funds. 

ArcelorMittal maintains approximately 5,000 direct and 30,000 indirect jobs in Belgium. While some support services will be transferred to India, existing employment will remain unaffected.