ArcelorMittal: partnership with Veolia for the Fos-sur-Mer

© Reuters. ArcelorMittal: partnership with Veolia for the Fos-sur-Mer

ArcelorMittal (AS:MT) and Veolia (PA:LIFE) today announce the creation of a 50/50 joint venture to modernize the energy production plant of Fos-sur-Mer, one of the most important sites of ArcelorMittal in Europe with an annual capacity of 4.6 million tonnes of steel.

This agreement aims to optimize the operation of production assets, but also to enhance the environmental performance of the site through the optimization of energy recovery of gas, iron and steel and the reduction of CO2 emissions.

The joint venture represents approximately 190 million euros over a period of three years. The operation and maintenance of the power plant are contracted out to Veolia Industries Comprehensive Solutions for 15 years, with a turnover of the order of 450 million over the period.

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