ArcelorMittal, Veolia Create JV to Modernize French Plant
23 Maggio 2018 - 9:20AM
Dow Jones News
By Euan Conley
ArcelorMittal (MT.AE) and Veolia Environnement S.A. (VIE.FR)
have formed a joint venture to modernize an energy production plant
in France, the companies said Wednesday.
The Veolia Industries Global Solutions and ArcelorMittal
Mediterranee subsidiaries will invest about 190 million euros ($224
million) over three years to renovate energy installations at the
Fos-Sur-Mer plant in France, they said.
The companies said the investment related to renovation of
furnaces, rotating machinery and auxiliary equipment, adding that
the plant's 105 operational staff will join the joint venture.
"The objective of this partnership is to achieve an average
electricity production capacity of 700 GWh per year, which
represents half of the total consumption of the plant and is equal
to the electricity consumption of a city with 100,000 inhabitants,"
said Francois Sgro, ArcelorMittal Mediterranee's industrial
director.
Operation and maintenance of the plant will be entrusted to the
joint venture for a 15-year period, the companies added.
Write to Euan Conley at euan.conley@dowjones.com
(END) Dow Jones Newswires
May 23, 2018 03:05 ET (07:05 GMT)
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