The Flemish regional government is to give greater financial support than orgionally planned to help the ArcelorMittal plant in Ghent (East Flanders) become carbon-free. Originally 350 million euro’s in public money was to have been provided to decarbonise the plant, now the Flemish Finance Minister Mathias Diependaele (nationalist) says that 600 million euro in Flemish Government funding will be given to help ArcelorMittal Ghent become carbon-free.
Flanders to provide an additional 250 million euro for the ArcelorMittal factory in Ghent
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Mr Diependaele says that a carbon-neutral steel plant is crucial to the transformation of the ArcelorMittal factory Ghent into a carbon-free site before the end of 2025. The investment is part of the plan to make the steel industry in Flanders more sustainable.
The Flemish regional government decided back in 2021 to support ArcelorMittal's decarbonisation plan with a loan. Originally 350 million euro were earmarked, now this has been increased to 600 million euro.
Ghent or Dunkirk
"This investment should ensure that the future of the site at the port of Ghent is secured and that Ghent can retain its leading role in the steel industry and remain competitive," Mr Diependaele said.
In a few months' time, the ArcelorMittal Group will decide whether to invest in its French factory at Dunkirk or in its factory in Ghent. Mr Diependaele is confident the the investment will go to East Flanders: "With our other investments and subsidies, we can present a strong case. This will enable us to face up to the competition from France and secure jobs in Ghent."
ArcelorMittal Ghent currently employs 4,500 people. Suppliers to the company provide a further 1,100 jobs.