ArcelorMittal Invests 300 Mln Euros In Electrical Steels Plant In France

Steel major ArcelorMittal (MT) said on Thursday that with the support of the French government, it is investing 300 million euros to start a new electrical steels manufacturing facility at its Mardyck site in France.

The new steel unit in Mardyck will have a 200,000-tons output capacity and is anticipated to start functioning in 2024.

The new plant, a boost for French electromobility sector, will create over 100 direct jobs and specialize in the production of electrical steels for the engines of electric, electric and hybrid vehicles.

The new facility is in addition to the company's existing electrical steels plant in Saint-Chély d'Apcher.

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