Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 136

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 136
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visional Acceptance Certificate was issued on December 16, 2024. b. See “Business overview—Sustainable development—Climate change and decarbonization". c. AMNS Calvert is constructing a new 1.5 million tonnes EAF and caster . The facility is currently in the hot commissioning phase. The new EAF project with investment over $1 billion, integrated with ArcelorMittal’s HBI facility in Texas, will enable Calvert to supply automotive customers with lower CO 2 embodied steel, melted and poured in the U.S. The new EAF has a strong product mix of advanced steel grades, including Exposed, Dual Phase (DP), Multiphase (MP), Third Generation (Gen-3) steels and Press Hardened Steels (PHS) namely Usibor®. Option to add a further 1.5 million tonnes EAF at lower capital expenditure intensity is being studied. d. The Serra Azul project's current investment forecast is approximately $0.5 billion. The DRI quality pellet feed is expected to primarily supply ArcelorMittal Mexico steel operations. Completion is delayed by 1 year mainly due to delayed delivery of equipment. e. Approximately $0.3 billion investment in the Barra Mansa (Brazil) sections mill aims to expand domestic market share and profitability with higher added value ("HAV") products like merchant and special bars. Project completion is now expected in the second half of 2025 as a result of unforeseen challenges during civil works. f. ArcelorMittal, with French government support, is establishing a new electrical steels production unit at Mardyck, complementing its Saint-Chély d’Apcher plant. The $0.5 billion investment will be completed in two phases: commissioning and ramp-up of the annealing and coating line in the first half of 2025, followed by APL and REV startup in the second half of 2025. The delay from the initial timeline is due to unforeseen civil construction challenges and resource constraints among main contractors. g. ArcelorMittal Liberia has been operating at 5 million tonnes per annum of direct shipping ore (DSO) since 2011 (Phase 1) and restarted construction of a concentrator and associated infrastructure (Phase 2). Project commissioning ongoing with most procurement and civil works completed in 2024 (with minor areas still to be concluded) and structural, mechanical, piping and platework well progressed. An opportunity to increase port