[SMM Iron & Steel] Marcegaglia Boosts Investment in French Low-Carbon Steel Project to €1.2 Billion

Published: Jun 4, 2026 14:44

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Italian steelmaker Marcegaglia has announced an additional €600 million investment for its Mistral low-carbon steel project in Fos-sur-Mer, France, raising the total planned investment to approximately €1.2 billion. The expansion aims to transform the former Ascometal site, increasing its annual liquid steel production from the current 100,000-150,000 metric tons (mt) to roughly 2.1 million mt by mid-2028, with rolling capacity set to reach 3 million mt per year. The project includes a €450 million contract with Danieli for new technologies and a 10-year nuclear power supply agreement with EDF to support decarbonization via Direct Reduced Iron (DRI) and Hot Briquetted Iron (HBI) usage. With a final investment decision expected by the end of 2026, this significant capacity addition will greatly enhance Marcegaglia's upstream self-sufficiency and alter the European flat steel supply landscape, providing a competitive edge in the growing green steel market.

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