ArcelorMittal’s €11 Billion Investment Plan in Ghent Faces Scrutiny from Unions and Government

Ghent (Eurotoday): ArcelorMittal aims to cut CO2 emissions by 35% by 2030, needing €11 billion. Concerns arise over insufficient support, with Ghent urging government action to protect local jobs and ensure fair competition.

ArcelorMittal is facing concerns about its investments in Europe, especially from unions. The company plans to reduce CO2 emissions by 35% by 2030, which will require an investment of 11 billion euros. While Flanders has promised 600 million euros in support and the federal government is offering cheap electricity, ArcelorMittal claims that the European support isn’t enough, leading to the possibility of delays or cancellations of their plans.

What requirements must be fulfilled for ArcelorMittal to move forward with its investment in Ghent?

In a city council meeting, Tom De Meester from the PVDA party raised concerns about ArcelorMittal. He said the company has made big profits in Belgium but is investing in the US, Brazil, and Canada. The Ghent council is prompting the Belgian and European governments to fulfill specific conditions quickly to promote investment. Alderman Sofie Bracke mentioned that this investment needs affordable energy, a good business environment, and measures to stop cheap steel imports outside the EU.

The city of Ghent is seeking clarification from higher authorities on important issues regarding ArcelorMittal, a key employer in the region that provides approximately 30,000 jobs. The company plans a big climate investment that could cut emissions in Flanders by 4 percent. Ghent aims to establish regulations that benefit not only ArcelorMittal but also other companies. They are supporting efforts like helping with permits and plan to include green steel in future contracts. ArcelorMittal is also seeking a clear plan to compete with steel production from outside Europe, but they are delaying their investment decision until spring for more clarity.