ArcelorMittal has announced the suspension of some decarbonized construction projects, including plans to build direct reduced iron (DRI) plants and undertake blast furnace/basic oxygen furnace (BOF)-to-electric arc furnace (EAF) conversion projects in Dunkirk and Fos-sur-Mer, France.

The company stated that due to the unfavorable development of European policy, energy, and market environments, the slow advancement of green hydrogen, and the lack of competitiveness of natural gas-based DRI production, related projects would be postponed.

Nonetheless, ArcelorMittal reiterated its commitment to achieve net-zero emissions by 2050, but Chief Executive Aditya Mittal said the approach to achieving the goal may be different from the previously announced.

The company stressed the need to ensure policy support before final investment decisions to balance higher-cost steel production with competitiveness issues in Europe.