ARCELORMITTAL EMISSION RIGHTS

[BIZ: Seraing, March 5]
The Walloon government is financing the purchase of CO2 emission rights for ArcelorMittal. The Walloon government has come to an agreement on financial assistance by purchasing 12 million CO2 emission rights, which are necessary to start up the blast furnace No. B in Seraing again on April 12.

The decision will cost the Walloon government between EUR 40m and 60m, and can save 600 jobs directly—it could be more. The agreement relates to the 2008¬—2012 period and it is contingent on an investment of EUR 110m by ArcelorMittal to keep the furnace going.

The Walloon PM, Rudy Demotte, and minister of the environment, Philippe Henry said that the Walloon government would also ask the Belgian federal government to make its contribution, as provided for in the 2008 agreement.

At that time, this agreement gave ArcelorMittal the right to 20 million CO2 emission rights, which were to be paid for in equal shares by the company itself, the Walloon government, and the federal government. This means that the Belgian government will also have to pay EUR 40—60m.

The management of ArcelorMittal was delighted by the decision of the government, but notes that an immediate restarting of furnace No. 6, HF6 in Seraing, which would mean 200 jobs, is not currently on the agenda.

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