ArcelorMittal, Nippon Steel sign deal to build $775m EAF
ArcelorMittal has signed a definitive agreement with Nippon Steel Corporation to build an electric arc furnace (EAF) at AM/NS Calvert in Alabama, US, a 50:50 joint venture between ArcelorMittal and Nippon Steel.
ArcelorMittal first announced its intention to build an EAF at AM/NS Calvert on August 12, 2020.
Construction of the 1.5 million tonne capacity EAF, which will cost $775 million, will commence in 2021 and come onstream in the first half of 2023. The project will be funded by AM/NS Calvert.
Commenting, Brad Davey, CEO, ArcelorMittal North America, said: “This is an important project for AM/NS Calvert which builds additional flexibility to its slab sourcing and will increase its responsiveness to short lead time orders. AM/NS Calvert is already one of the world’s finest steel finishing facilities. Adding this state-of-the-art EAF will further strengthen its capabilities and enhance its ability to serve its full range of customers.
“I am very pleased we will be undertaking this with Nippon Steel; it is a natural extension of our existing, successful partnership.” - TradeArabia News Service
