ArcelorMittal (MT) Invests €1.3B in Dunkirk Decarbonization Project

ArcelorMittal (NYSE:MT) is one of the dirt cheap stocks to buy now. On February 10, ArcelorMittal officially confirmed a €1.3 billion investment to construct a new electric arc furnace/EAF at its steelmaking facility in Dunkirk, France. This move marks a milestone in the company’s decarbonization efforts, as the new EAF is expected to produce steel with 3x less CO2 than traditional blast furnaces. Scheduled to start up in 2029 with a 2-million-tonne capacity, the project will receive 50% of its funding t ...