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ArcelorMittal: secures $280 million in tax credits in Calvert
(CercleFinance.com) - ArcelorMittal reports that its wholly-owned ArcelorMittal Calvert plans to build an advanced manufacturing plant in Calvert, Alabama, USA, which could provide 150,000 tons of domestic non-oriented electrical steel (NOES) production capacity each year.
The U.S. Department of Energy (DOE) has defined electrical steel as a critical energy material in its 2023 Critical Materials Assessment. To support this clean energy project, ArcelorMittal Calvert received $280.5 million in investment tax credits from the U.S. Internal Revenue Service (IRS) under the Qualifying Advanced Energy Project Credit (48C) program, designed to support secure and resilient domestic clean energy supply chains. Copyright (c) 2024 CercleFinance.com. All rights reserved. |
03/05/2024 16:55
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