AM HIGHTECH AND SUSTAINABLE STEEL RDI - COVID19

Promoter – Financial Intermediary

ARCELORMITTAL

Location

• Belgium
• France
• Luxembourg
• Spain

Description

The project will finance ArcelorMittal's European RDI activities, as well as related capital expenditures over the 2021-2023 period.

Objectives

The aim is to mainly support the development of more sustainable iron and steelmaking processes and development of high-tech high value-added steel products. The two strands of RDI activities to be supported are: i) iron and steel production processes, aiming at greenhouse gas (GHG) emission reductions and new processes to further increase yield, quality and reliability of high-tech steel grades; ii) steel products development, aiming at developing innovative steel solutions for various applications.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 280 million

Total cost (Approximate amount)

EUR 564 million

Environmental aspects

The activities and related expenditures will be carried out in existing facilities already authorised for such purpose and therefore not expected requiring an Environmental Impact Assessment (EIA) under the Directive 2011/92/EU.

Procurement

The promoter has been assessed by EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC or Directive 2014/25/EU), then the Bank would require the promoter to ensure that contracts for the implementation of the project have been or will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC, or Directive 2014/25/EU where applicable, and Directive 92/13/EEC), with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 2/06/2021