Steel giant ArcelorMittal has announced to invest more than EUR 300 million to build a new electrical steel plant in Mardyck, North France, which was expected to create more than 100 direct job opportunities.

This new plant will specialize in producing electrical steel for engines used in electric vehicles, with a view to strengthening the electromobility sector in France.

The plant, with an annual production capacity of 200,000 tons, was scheduled to be put into operation in 2024.